Today, Tuesday, May 12, 2026, the fraud landscape in South Africa and globally is dominated by high-stakes asset seizures, major legal battles over historic payouts, and systemic warnings about telecommunications and securities fraud.
Here is a roundup of the 5 most impactful fraud-related news stories:
1. SIU FREEZES R27 MILLION IN ASSETS OVER PPE FRAUD
The Special Investigating Unit (SIU) has secured a preservation order to freeze high-value properties in Kimberley and Bryanston linked to a R26.96 million tender fraud in the Northern Cape Department of Health.
The Scheme: A contract for COVID-19 PPE was allegedly awarded to a non-compliant supplier without a lawful procurement process.
The Evidence: Forensic tracing revealed that invoices were backdated by two years to mislead investigators, and funds were immediately diverted for personal luxuries, including a jacuzzi and high-end sound systems.
2. “PLEASE CALL ME” INVENTOR ACCUSES LEGAL FUNDERS OF FRAUD
In a dramatic turn for the long-running “Please Call Me” saga, Nkosana Makate has filed a case in the Pretoria High Court to declare his funding agreement with Black Rock Mining void on the grounds of fraud.
The Allegation: Makate claims he was “duped” into signing away 40% of his multi-million rand Vodacom settlement by funders who misrepresented their financial strength and trading history.
The Defense: The funders argue they provided the essential R4.3 million that allowed the litigation to succeed in the first place.
3. TELECOMS FRAUD REACHES R5.3 BILLION MILESTONE
Data released today highlights a crisis in the telecommunications sector, with fraud now costing South Africa over R5.3 billion annually.
SIM-Swap Attacks: Approximately 60% of mobile banking fraud is currently linked to illegal SIM-swaps.
Legislative Push: There are urgent calls today for Parliament to enforce biometric registration for all SIM cards under RICA to prevent criminals from using fake IDs to hijack accounts.
4. GLOBAL SECURITIES FRAUD LAWSUITS TARGET PLANET FITNESS AND MEDPACE
On the international front, two major class-action investigations were launched today following massive stock drops.
Planet Fitness: Investigated for potentially misleading investors after a failed marketing campaign caused a 31% drop in share value.
Medpace: Facing a lawsuit for allegedly understating cancellation rates, leading to a 16% single-day crash in its stock price.
5. STEINHOFF FRAUD: NEXT PHASE FOR STÉHAN GROBLER
Following a string of convictions in the Steinhoff accounting scandal, attention turns to former treasurer Stéhan Grobler, whose criminal case is set for further proceedings this Thursday, May 14.
Background: Grobler has already been slapped with a R358.75 million administrative penalty by the FSCA for his role in the irregularities that wiped billions from the market. Unlike his colleagues who entered plea deals, Grobler has indicated he intends to plead not guilty.