The SA Banking Risk Information Centre has again warned companies and individuals to beware of fraudulent banking scams, such as the deposit and refund scam.
These involved sensitive company information, including banking details, letterheads and client details falling into the hands of criminals, Sabric commercial crime office head Susan Potgieter said.
While the modus operandi was not new, the perpetrators usually took advantage of the relationship a company had with its creditors, debtors, and even clients.
"They would create an impression that a company is dealing with a reputable stakeholder, through using its letterheads, logos or any other form of identity to defraud the business.
Fraudsters communicated with victims, usually in an official letterhead from the said "debtor", stating that a deposit had mistakenly been paid into the respective client's account.
They then requested an immediate refund and provided the bank account details into which the refund should be made, usually asking for an electronic funds transfer.
Often a deposit had indeed been made, and it was assumed a genuine mistake had been made and a refund was appropriate.
full story from IOL here
Did you like this article? Share it with your favourite social network.