South Africa
TERS clampdown sees R3bn returned to UIF─── 09:06 Mon, 04 Jul 2022
A total of R3,4 billion has been voluntarily returned to the Unemployment Insurance Fund (UIF) by employers who benefited from the Covid-19 Temporary Employer-Employee Relief Scheme.
This was confirmed by the Unemployment Insurance Fund this week, which says this is a result of media headlines of employers being arrested for Covid-19 TERS-related fraud.
As a result, more employers are now returning monies to the UIF of their own accord.
In a statement, the UIF says they anticipate more employers to continue coming forward, as they expect more arrests and convictions through our investigative work with law enforcement and their “follow the money” project.
At least R14.1 billion that was disbursed through Covid-19 TERS had been audited during phase one of the “follow the money” project.
The UIF has since appointed six forensic auditing firms to conduct phase 2 of the “follow the money” project which starts this month to run for the next 12 months.
