The unemployment Insurance plan Fund (UIF) is on a mission to get again cash fraudulently claimed as a result of the UIF Covid-19 TERS plan around the earlier several a long time.
In 2020 the UIF had all-around R160 billion in its coffers for Covid-19 short term staff aid, of which it paid R61 billion in promises.
For the duration of a media briefing on Thursday in Cape City, Uif Commissioner Tebogo Maruping revealed that R3.4 billion in dollars stolen through the aid scheme has voluntarily been returned to the UIF.
Maruping said during the disbursement of the relief resources, they indicated that they would introduce the “follow the money” job to guarantee that no resources have been abused or misused by companies.
He stated they have appointed 6 forensic auditing companies to carry out stage 2 of the “follow the money” project, which is established to get started in July and expected to be concluded by 12 months.
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“We had specific all over R14 billion in the 1st six months. We have been ready to confirm that R12.8 billion was paid properly by the companies to their staff members and all the processes was performed effectively,”
In the method they ended up in a position to get well R918 million, although R357 million was paid out in suspected fraudulent statements, which have been documented to the legislation enforcement.
He explained as the scenarios were investigated and came to light in the media, businesses were induced and began transferring funds back to the UIF account.
“Companies commenced to appear ahead and started off transferring revenue into the UIF lender account, they transferred about R2.5 billion, when you include the R918 million we recovered the entire amount arrived to R3.4 billion,” additional Maruping.
The UIF now has R120 billion in its coffers and is particular about 91% of the relief resources had been exact payments.
Maruping stated UIF employees are no exclusion in the investigation into their attainable involvement of the stolen money.
“We are also investigating attainable insider involvement from our staff. We are not going to disclose as nevertheless the extent, but we are pursuing all those circumstances and at the ideal time we will make the necessary announcement,” said Maruping.
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