***** incident of R 109 350.00

I encountered a ***** incident from a bogus supplier where we deposited R109 350.00 to a standard bank account, after realising the failure of the supplier to deliver the goods on agreed time. We visited one of the Standard bank branch to check whether the funds were received by the supplier, and the consultant explained that the account holder name where we deposited the funds to was not the same as the name provided by the supplier and further noted that the account was opened on the day we transferred the funds. The consultant provided us with the ***** department contact email. On the 13th June 17 I engaged Standard bank ***** department about the matter, I clearly articulated what transpired regarding the transaction. Standard bank responded on the 14th of June 2017 that they have received our email and that the account had been stopped pending the investigation and we acknowledged the reply. I followed up on the 27th of June 2017 and haven't received any feedback to date. I believe the above transaction processing didn't follow correct due diligence processes due to the names being different to the account holder name I was transferring the funds to and should have been picked up by Standard bank and not clear or avail the funds.