Latest news with #Viljoen
NZ Herald
21-05-2025
- Business
- NZ Herald
TSB blocks probe after staff help customer send $1m to scammers
He told the Herald he is devastated TSB is refusing to waive the Banking Ombudsman's $500,000 financial threshold to allow an independent probe into TSB's actions. He believed this was the last avenue he had to recover any money. Fan accused the bank of trying to avoid public scrutiny and sidestepping potential compensation orders if it was found to have missed crucial red flags. 'It's obfuscation. If they've got nothing to hide, why are they trying to evade the Ombudsman?' TSB is defending its actions, saying there were no 'indicators to suggest fraud or obvious customer vulnerabilities' when Fan made the payments. Given the amount involved and the 'complex and technical' nature of the scam, the bank believed it was more appropriate for Fan to seek review through the courts. Fan, 69, is a Kerikeri retiree who cares fulltime for his sick wife. He was cold-called in late 2022 by a man purporting to be an investment broker for Magnitude Financial. Fan agreed to invest $1m, which he and his wife had saved while running an English language school in Taiwan. Auckland businessman Carel Johannes Viljoen, 61, was found guilty of two counts of money laundering in connection with the scam. Photo / Alyse Wright He thought he was buying low-risk bonds with the Commonwealth Bank of Australia. In fact, the funds ultimately went to an Auckland Westpac account controlled by South African businessman Carel Viljoen. The Beca costings professional was found guilty this year of money laundering in connection with $2m, which was stolen by scammers from Fan and another elderly victim in Rotorua. Viljoen claimed he thought he was part of a legitimate business venture, alleging that Westpac gave him clearance to move the money overseas. But a jury found he was reckless as to whether the large payments coming into his account were the proceeds of crime. He could be jailed for up to seven years when he is sentenced next month. 'I want to make a transfer of almost $1m' During the trial it emerged that Fan made two $1m payments to the scammers, though the bank successfully recalled one. TSB staff helped him make the first by outward telegraphic transfer to an Australian bank in late December 2022. But days after the money left Fan's account he realised the so-called bonds investment was not jointly registered in his wife's name. He contacted the man pretending to be his broker, who instructed Fan to ask TSB to reverse the transaction. The scammers then sent payment instructions for Viljoen's Westpac account. Again, TSB staff helped him transfer $1m by phone. After Viljoen's trial, Fan requested copies of the recorded phone calls from TSB under the Privacy Act and provided them to the Herald. In the first recording, he tells staff he needs to reverse the initial $1m transfer as his broker 'made a mistake'. The staff member reminds Fan that the money has now left his account and it's unlikely TSB will be able to get it back unless the recipient agrees to return the funds. Steven Fan has accused TSB Bank of trying to avoid public scrutiny after he lost $1 million in an investment scam. The recovery application was ultimately successful. Then on January 13, 2023, Fan calls TSB again to make his second payment. 'I want to make a transfer of almost $1m to my broker who's buying some bonds from the Commonwealth Bank of Australia,' Fan says. He explains the money was originally sent to an Australian account, but because of an error, it is now being sent to his broker's New Zealand 'escrow' account. The staff member says she needs her manager to call Fan to finalise the payment because of its size. Fan then emails the staff member payment instruction documents provided by the scammers. On receiving the documents she says, 'It looks like everything I need'. She continues: 'So you mentioned that you're transferring these funds to Magnitude Financial and you will be buying bonds from Australia. Is that right?' Fan replies: 'Yes at the Commonwealth Bank of Australia, but it has to be sent to a New Zealand account.' TSB responds: 'This is not a decision we made lightly' The Herald asked TSB why Fan's apparent vulnerability combined with his cancellation of the earlier $1m payment did not trigger any red flags. We also asked whether he was warned about the possibility of a scam and if staff interrogated him about why money for a supposed Australian bank bond investment was being sent to a Westpac account in Auckland. TSB general manager customer delivery Penny Burgess said staff had several discussions with Fan about the investment. They asked him to confirm what the payment was for and received a 'consistent response'. 'We made further inquiries ourselves internally, which included reviewing the payment invoice. In these inquiries, based on what we knew about the fraud landscape that applied at that time, we didn't identify any indicators to suggest fraud or obvious customer vulnerabilities.' Burgess said Fan's loss was nearly twice the Banking Ombudsman Scheme's financial limit. The scheme's terms and conditions prevented investigations over this threshold unless both parties agreed. 'In this instance, we declined to agree.' Given the significant value of the loss and the 'complex and technical nature' of the scam, TSB believed it was 'more appropriate' for Fan's claim to be considered by the courts. 'This is not a decision we made lightly. The impact this has had on Mr Fan has been front of mind for us throughout this process. That's why we believe it would be best dealt with in a more appropriate setting to achieve an outcome that is fair to all parties.' Banking Ombudsman Nicola Sladden confirmed her office did not have jurisdiction to investigate Fan's complaint, as his loss was above the scheme's $500,000 threshold and TSB had refused to waive the limit. Sladden suggested asking TSB about its decision to block an independent review by her office. Lane Nichols is a senior journalist and Auckland desk editor for the New Zealand Herald with more than 20 years' experience in the industry. Sign up to The Daily H, a free newsletter curated by our editors and delivered straight to your inbox every weekday.
NZ Herald
20-05-2025
- Business
- NZ Herald
TSB Bank blocks independent investigation after staff help customer send $1m to scammers
He told the Herald he is devastated TSB is refusing to waive the Banking Ombudsman's $500,000 financial threshold to allow an independent probe into TSB's actions. He believed this was the last avenue he had to recover any money. Fan accused the bank of trying to avoid public scrutiny and sidestepping potential compensation orders if it was found to have missed crucial red flags. 'It's obfuscation. If they've got nothing to hide, why are they trying to evade the Ombudsman?' TSB is defending its actions, saying there were no 'indicators to suggest fraud or obvious customer vulnerabilities' when Fan made the payments. Given the amount involved and the 'complex and technical' nature of the scam, the bank believed it was more appropriate for Fan to seek review through the courts. Fan, 69, is a Kerikeri retiree who cares fulltime for his sick wife. He was cold-called in late 2022 by a man purporting to be an investment broker for Magnitude Financial. Fan agreed to invest $1m, which he and his wife had saved while running an English language school in Taiwan. He thought he was purchasing low-risk bonds with the Commonwealth Bank of Australia. In fact, the funds ultimately went to an Auckland Westpac account controlled by South African businessman Carel Viljoen. The Beca costings professional was found guilty earlier this year of money laundering in connection with $2m, which was stolen by scammers from Fan and another elderly victim in Rotorua. Viljoen claimed he thought he was part of a legitimate business venture, alleging that Westpac gave him clearance to move the money overseas. But a jury found he was reckless as to whether the large payments coming into his account were the proceeds of crime. He could be jailed for up to seven years when he is sentenced next month. 'I want to make a transfer of almost $1m' During the trial it emerged that Fan made two $1m payments to the scammers, though one was successfully recalled by the bank. TSB staff helped him make the first by outward telegraphic transfer to an Australian bank in late December 2022. But days after the money left Fan's account he realised the so-called bonds investment was not jointly registered in his wife's name. He contacted the man pretending to be his broker, who instructed Fan to ask TSB to reverse the transaction. The scammers then sent payment instructions for Viljoen's Westpac account. Again, TSB staff helped him transfer $1m by phone. Advertise with NZME. Following Viljoen's trial, Fan requested copies of the recorded phone calls from TSB under the Privacy Act and provided them to the Herald. In the first recording, he tells staff he needs to reverse the initial $1m transfer as his broker 'made a mistake'. The staff member reminds Fan that the money has now left his account and it's unlikely TSB will be able to get it back unless the recipient agrees to return the funds. The recovery application was ultimately successful. Then on January 13, 2023, Fan calls TSB again to make his second payment. 'I want to make a transfer of almost $1m to my broker who's buying some bonds from the Commonwealth Bank of Australia,' Fan says. He explains the money was originally sent to an Australian account, but because of an error, it is now being sent to his broker's New Zealand 'escrow' account. The staff member says she needs her manager to call Fan to finalise the payment due to its size. Fan then emails the staff member payment instruction documents provided by the scammers. On receiving the documents she says, 'It looks like everything I need.' She continues: 'So you mentioned that you're transferring these funds to Magnitude Financial and you will be buying bonds from Australia. Is that right?' Fan replies: 'Yes at the Commonwealth Bank of Australia, but it has to be sent to a New Zealand account.' TSB responds: 'This is not a decision we made lightly ' The Herald asked TSB why Fan's apparent vulnerability combined with his cancellation of the earlier $1m payment did not trigger any red flags. We also asked whether he was warned about the possibility of a scam and if staff interrogated him about why money for a supposed Australian bank bond investment was being sent to a Westpac account in Auckland. TSB general manager customer delivery Penny Burgess said staff had several discussions with Fan about the investment. They asked him to confirm what the payment was for and received a 'consistent response'. 'We made further inquiries ourselves internally, which included reviewing the payment invoice. In these inquiries, based on what we knew about the fraud landscape that applied at that time, we didn't identify any indicators to suggest fraud or obvious customer vulnerabilities.' Burgess said Fan's loss was nearly twice the Banking Ombudsman Scheme's current financial limit. The scheme's terms and conditions prevented investigations over this threshold unless both parties agreed. 'In this instance, we declined to agree.' Given the significant value of the loss and the 'complex and technical nature' of the scam, TSB believed it was 'more appropriate' for Fan's claim to be considered by the courts. 'This is not a decision we made lightly. The impact this has had on Mr Fan has been front of mind for us throughout this process. That's why we believe it would be best dealt with in a more appropriate setting to achieve an outcome that is fair to all parties.' Banking Ombudsman Nicola Sladden confirmed her office did not have jurisdiction to investigate Fan's complaint, as his loss was above the scheme's $500,000 threshold and TSB had refused to waive the limit. Sladden suggested asking TSB about its decision to block an independent review by her office.
IOL News
14-05-2025
- Health
- IOL News
Wellness coach prepares to conquer Kilimanjaro for survivors of gender-based violence
Leonie Viljoen, a wellness coach from Boston, Bellville, is preparing to conquer Mount Kilimanjaro, the highest peak in Africa, at the end of June. This ambitious undertaking is not merely for adventure; rather, it is a poignant mission to raise awareness and funds for the women-led organisation, 1000 Women Trust, which aims to provide safe spaces for women who have been victims of gender-based violence. Leonie Viljoen, a wellness coach from Boston, Bellville, is preparing to conquer Mount Kilimanjaro, the highest peak in Africa, at the end of June. This ambitious undertaking is not merely for adventure; rather, it is a poignant mission to raise awareness and funds for the women-led organisation, 1000 Women Trust, which aims to provide safe spaces for women who have been victims of gender-based violence. Leonie Viljoen, a dedicated wellness coach and mother of two, is set to embark on a monumental journey to the summit of Mount Kilimanjaro as she champions the cause for survivors of gender-based violence. Viljoen reveals that this undertaking is a poignant mission to raise awareness and funds for the women-led organisation, 1000 Women Trust, which aims to provide safe spaces for women who have been victims of gender-based violence. Her journey is deeply personal; having survived abuse, she says she understands the struggles many women face daily and as a mother of two toddlers, her commitment to this cause is fuelled by the desire to create a better world for her children and the countless other women like her. She is part of a group of eight climbers who will embark on their eight-day journey starting June 25. 'I do this for the women who've endured pain deeper than any crevasse on that mountain. I climb for those subjected to gender-based violence whose fight is steeper, their endurance greater, and their courage unlimited.' She also emphasises that this climb is a tribute to every woman silenced by fear and every girl told that her pain is private. 'Many women suffer sexual abuse and don't know what their rights are or what the appropriate and meaningful next steps should look like. The psychological impact often drives them to the edge of despair instead of empowering them to report it. That is where an organisation like 1000 Women Trust becomes a lifeline.' Through initiatives like trauma training courses and the GBV-Warriors initiative, 1000 Women Trust offers a sanctuary and the unwavering belief that every woman deserves to live without fear. As Viljoen prepares for her ascent, she aims to raise crucial funds to support the expansion of the trust's services and enhance their impact. 'Help me turn every metre I ascend into a step toward justice, dignity, and healing,' she urged. 'Join me. Support 1000 Women Trust. And together, let's rise - higher than we ever thought possible.' Showcasing her resilience in overcoming her personal battles to reach this significant milestone she says, 'Climbing Kilimanjaro has been a goal of mine since 2018. I climb with passion and purpose.' Viljoen has invited supporters to join her in a creative way by participating in a virtual walk, where individuals can complete the distance at their own pace and location. 'I want to call women to action to do the Kilimanjaro event in their own time and place,' she said. Saturday Star
National Post
02-05-2025
- Business
- National Post
Newmont Promotes Natascha Viljoen to President and Chief Operating Officer
Article content DENVER — Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) ('Newmont') today announced that Natascha Viljoen, Executive Vice President and Chief Operating Officer, has been promoted to President and Chief Operating Officer of the company. Ms. Viljoen will continue to report directly to Chief Executive Officer Tom Palmer. Article content Article content 'This promotion is a recognition of Natascha's strong leadership as Chief Operating Officer since 2023, her commitment to safe operational delivery and deep connections with people both inside and outside the company,' said Palmer. 'Natascha's energy, passion and resolve will continue to be critical assets as we work to improve costs and productivity to deliver value to shareholders.' Article content Palmer added, 'This new leadership role for Natascha, which provides a balance of both strategic and operational focus, is right for the company at this time. Now that we have completed the rationalization of our portfolio following the Newcrest acquisition, we want to ensure that our leadership team is in the best position to support our people throughout the company to safely deliver on our commitments now and in the future. Natascha's new role is an important step in making that happen.' Article content Prior to joining Newmont, Natascha served as the Chief Executive Officer of Anglo American Platinum, the world's largest primary producer of platinum. Natascha is a metallurgical engineer and holds a Bachelor of Engineering from North West University in South Africa and an Executive MBA from the University of Cape Town, South Africa. Article content 'I am honored and excited to have this opportunity to serve as President and Chief Operating Officer of Newmont, a company whose values I share and whose people I respect,' said Viljoen. 'I am looking forward to leading our efforts in this new capacity, and to ensure that all of our stakeholders – our teams, host communities, partners, customers and shareholders – benefit from our world-class portfolio.' Article content About Newmont Article content Newmont is the world's leading gold company and a producer of copper, zinc, lead, and silver. The Company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the Company has been publicly traded since 1925. Article content At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, go to Article content This news release may contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. Forward-looking statements in this news release include, without limitation, expectation regarding cost and productivity improvements and other statements regarding future events or results. For a discussion of risks and other factors that might impact future looking statements , see the Company's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission on February 21, 2025, under the heading Risk Factors. Article content Article content Article content Article content Article content Contacts Article content Media Contact – Global Shannon Brushe globalcommunications@ Article content Article content Article content
Business Wire
02-05-2025
- Business
- Business Wire
Newmont Promotes Natascha Viljoen to President and Chief Operating Officer
DENVER--(BUSINESS WIRE)-- Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) ('Newmont') today announced that Natascha Viljoen, Executive Vice President and Chief Operating Officer, has been promoted to President and Chief Operating Officer of the company. Ms. Viljoen will continue to report directly to Chief Executive Officer Tom Palmer. "This promotion is a recognition of Natascha's strong leadership as Chief Operating Officer since 2023, her commitment to safe operational delivery and deep connections with people both inside and outside the company," said Palmer. "Natascha's energy, passion and resolve will continue to be critical assets as we work to improve costs and productivity to deliver value to shareholders." Palmer added, "This new leadership role for Natascha, which provides a balance of both strategic and operational focus, is right for the company at this time. Now that we have completed the rationalization of our portfolio following the Newcrest acquisition, we want to ensure that our leadership team is in the best position to support our people throughout the company to safely deliver on our commitments now and in the future. Natascha's new role is an important step in making that happen." Prior to joining Newmont, Natascha served as the Chief Executive Officer of Anglo American Platinum, the world's largest primary producer of platinum. Natascha is a metallurgical engineer and holds a Bachelor of Engineering from North West University in South Africa and an Executive MBA from the University of Cape Town, South Africa. 'I am honored and excited to have this opportunity to serve as President and Chief Operating Officer of Newmont, a company whose values I share and whose people I respect," said Viljoen. "I am looking forward to leading our efforts in this new capacity, and to ensure that all of our stakeholders – our teams, host communities, partners, customers and shareholders – benefit from our world-class portfolio." About Newmont Newmont is the world's leading gold company and a producer of copper, zinc, lead, and silver. The Company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the Company has been publicly traded since 1925. At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, go to Cautionary Statement Regarding Forward-Looking Statements This news release may contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. Forward-looking statements in this news release include, without limitation, expectation regarding cost and productivity improvements and other statements regarding future events or results. For a discussion of risks and other factors that might impact future looking statements , see the Company's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission on February 21, 2025, under the heading Risk Factors.
