MyBroadband Forum
Author:
MyBroadband is South Africa’s biggest and best IT news website, covering the latest international and local IT and tech news.
Join the discussion about all the latest in IT, telecoms, and broadband on MyBroadband’s community. Join this community to share ideas and read everything from expert opinion to casual discussion.
Eskom insiders compromised its online vending system for prepaid electricity and stole billions
Several Eskom employees have been implicated in a large-scale scheme to create billions of rands of fraudulent prepaid electricity vouchers, enriching themselves while the utility received no income for the units.
The scale of the fraud likely impacted Eskom’s financial health, exacerbating its debt problem and resulting in higher tariff increases to compensate for the lost revenue.