The Unemployment Insurance Fund (UIF) says it has contracted 6 auditing firms to help recover the millions of Rand that were lost due to fraudulent Covid-19 TERS claims.

The UIF says it has started investigating and prosecuting companies that claimed TERS funds but did not pay the monies to their employees.

Communications Director at the UIF, Makhosonke Buthelezi, says those companies, that have not registered their employees with the fund but claimed TERS funds are also under investigation.

Buthelezi says the UIF will therefore focus on investigations to detect the fraud associated with the temporary Covid-19 TERS funds.

The Fund will also investigate companies who did not register their employees with the fund before March 2020, then did so during the pandemic, so they could receive TERS funds.

The UIF has already recovered more than R900 million which was fraudulently claimed.

Read more here.

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