The SA Banking Risk Information Centre (Sabric) has warned businesses and consumers to keep an eye out for a resurfacing scam, defrauding people of money by masquerading as suppliers that have changed banking details.
The scam works through fraudsters sending e-mails or letters to account-holders who have an existing relationship with a supplier, informing them their particular supplier has changed their bank account details. Scammers will include details of the fake new account, into which recipients are asked to make future payments.
It is then the victim will discover this is a scam as the monies will be paid to the fraudster and not the supplier. Kalyani Pillay, Sabric CEO, says bank customers must thoroughly verify if supplier details have indeed changed before making any payments.
In April, Telkom warned its customers that fraudsters were depositing stolen or fake cheques into their accounts and then requesting a refund, claiming the deposit was a mistake.
The operator said the scammers use a false Telkom letterhead to inform the customer the telco had erroneously deposited the cheque into the customer's account as reimbursement for overpayment collected on their telephone account.
Be vigilant
Sabric says banking customers need to take the following precautions:
* Question whether well-known companies would change their banking details without notifying people through more formal channels.
* Ensure any changes in banking details are confirmed with someone that people regularly deal with at the organisation before making any changes to beneficiary accounts - this includes using the telephone directory to call organisations, as opposed to letterheads which may be fake.
* Double-check e-mail addresses, which could sometimes end in .com instead of .co.za, for example.
* Instruct staff who are responsible for paying invoices to scrutinise invoices for irregularities and escalate suspicions to a known contact.
* Ensure a company's private information is not disclosed to third parties who are not entitled to receive it, or third parties whose identities cannot be rightfully verified.
* Shred business and supplier invoices, or any communication material that may contain letterheads, as opposed to just discarding it in rubbish bins.
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