******** using Nedbank accounts for ********** activities

We were quoted goods by a company named Conrad Electricals, a company ********** use for ******** people. Their bank account is at Nedbank. After we were made aware the company was a ****, we opened a case with SAPS went to Nedbank with the case number for the account to be frozen. The funds were still in the account at the time, Nedbank took more thank two weeks to investigate without freezing the funds. Today they said all the funds were utilised. Had they blocked that account we would have recovered our money. How does nedbank allow a person to open an account without verifying them or their business? Are these ******** working with people inside Nedbank? We need answers Nedbank.