The Samoa National Provident Fund (SNPF) has broken its silence regarding reports of financial misconduct, launching a formal internal investigation following local media reports of staff misappropriation of funds within the lending unit.
In a public statement released today, the SNPF Board and Management announced they are treating the alleged staff misappropriation with “the utmost seriousness.”
While the statement stopped short of confirming whether any specific staff member has been implicated in theft, it stated that an investigation was underway and the Fund is undergoing a review of internal control systems.
“Formal investigative processes are underway, including the preservation and review of relevant records and transactions..
“In parallel, the Fund is progressing a broader review of its internal controls, ICT systems, operational procedures and staff accountabilities to identify any weaknesses and implement the necessary corrective measures.”
Last week on Thursday, the Acting Police Commissioner said no reports of criminal activity had been reported to Samoa Police.
“E leai se case faapena ua oo mai i le Matagaluega i le taimi nei..”
According to SNPF, they are not in a position to comment any further, “as the matter remains under active investigation.”
“This is necessary to protect the integrity and fairness of the investigation and any subsequent disciplinary or legal process.”
Media reports from sources say a lending officer had transferred funds from fake loan applications to bank accounts under family members names.
SNPF have assured contributors their funds are safe and SNPF’s normal operations, member services, dividend distributions and online services continue without interruption.
“Members with questions concerning their individual accounts may contact SNPF by email at info@npf.ws or by telephone on -+685 6480.”
“The Fund will provide further information when it is appropriate and lawful to do so.”
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