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Tom Muleya-Fraud Insight
The crime of fraud has many faces and ranges from simple to complex scams.
Fraudsters often use a variety of methods from several different personas.
Some common fraudster personas are the organised, the concealer, the exploiter, the coercer, the fabricator, the impersonator, the reckless and the deceiver.
These different fraud personas simply represent who will try to defraud people and how they will do it.
Currently fraud cases involving illegal forex deals are on the surge and CID Commercial Crimes Division would want the public to be on watch or high alert.
Fraudsters in these scams are targeting individuals who want to purchase goods particularly motor vehicles from South Africa.
This is how the fraud is committed; X intends to buy a car in the neighbouring South Africa which s/he saw advertised on internet by (Company) Y.
The price of the car is lucrative and X goes for it.
Y is actually a Zimbabwean fraudster who has created a fake website and opened South African bank accounts for the purposes of defrauding unsuspecting victims.
Upon X’s interest to purchase the car, Y advises X that he has a friend or agent Z, who is a money changer in Harare CBD (name given) who will help for convenience of transacting.
X is supplied with South African banking details to give to Z.
X approaches Z, an illegal forex dealer and hands over the foreign currency and the banking details as instructed.
Z then makes conversions from US dollar to South African (ZAR) and banks ZAR cash into Y’s fraudulent account.
Z is either a syndicate or victim who is unknowingly used to facilitate the fraud, whose benefit is derived only from converting USD to ZAR.
After Y confirms receiving payment, he becomes evasive and uncontactable.
The car is also not availed at the Border Post where X had been advised to be the collection point.
At this moment, X discovers that he has been scammed.
To avoid falling victim to this new form of fraud involving the participation of illegal forex dealers, consider the following preventive measures;
Exercise extreme due diligence when purchasing a motor vehicle in a foreign land.
Avoid shortcuts or unethical business practices.
Follow proper ways or procedures involved in motor vehicle purchases.
Find out from the police about scams that are prevalent involving motor vehicle purchases in neighbouring countries.
Practice cyber security hygiene especially when you respond to an advert placed on social media platforms.
Avoid anything that appears to be too good to be true, it is probably a scam.
Participate in the fight against fraud and cybercrimes and create a safe environment and crime free Zimbabwe.
Think Security.
Watch out for the next issue.
Tom Muleya is a Detective Assistant Inspector working under the CID Commercial Crimes Division. He is also a member of the National Cyber Security Awareness Taskforce, Zimbabwe. Feedback: WhatsApp line: 0772 764 043, or e-mail:[email protected].
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