Bank warns of deposit-slip scam

Bank warns of deposit-slip scam

STANDARD Bank Namibia and DHL Namibia would like to bring to make the general public aware of the latest deposit-slip scam that has been circulating in the Namibia network, especially during the months of August/ September 2007.

This has become important since a number of the clients of the various commercial banks operating in Namibia were targeted by South African-based syndicate members who would deposit relatively high-value cheques into the Namibian accounts at branches of various banks in South Africa, primarily in the Gauteng area. After making the deposits the fraudsters, claiming to be employees of DHL Global Forwarding Services, would contact the Namibian account holder by phone and fax requesting them to return the amount deposited less bank charges (N$300).DHL Namibia has confirmed it has no involvement whatsoever in this scam.Investigations have revealed that the fraudsters would often get the banking details of the Namibian company by calling their offices and talking to one of the secretaries.To prove that a deposit had been made, the fraudsters would fax a copy of an electronic payment receipt that they had fabricated, indicating that a cash deposit had been made.Investigations have revealed that some clients would look on their bank statements by logging into their Internet or electronic banking page and would see the credit and thereafter transfer the refund as per instructions.In other instances the clients accept the information received as true without looking at their statements and transfer as requested.A few days after the deposit Standard Bank Namibia or the other banks would receive a message from their correspondent bank in South Africa advising them that the amount deposited had been unpaid with reason that cheque fraud had been committed.It has been established that cheques had been deposited by the fraudsters and not cash.Invariably the cheques deposited were stolen, washed, cloned or fabricated.In terms of the clearing rules between banks, the receiver of such advices have to debit the account which received the deposit which results in losses to the accountholder, if they had made the refunds.Further investigations have revealed that the accounts to which the fraudsters want the refunds have been opened with fraudulent documentation.In order to save clients from potential loss Standard Bank Namibia & DHL Namibia have advised consumers to adopt the following measures:- * To regard any request for a refund with suspicion, in particular requests being made by individuals/companies with whom they have had no business dealings.* To contact their nearest bank branch or DHL office to verify the genuineness of the deposit made before making any refund.After making the deposits the fraudsters, claiming to be employees of DHL Global Forwarding Services, would contact the Namibian account holder by phone and fax requesting them to return the amount deposited less bank charges (N$300).DHL Namibia has confirmed it has no involvement whatsoever in this scam.Investigations have revealed that the fraudsters would often get the banking details of the Namibian company by calling their offices and talking to one of the secretaries.To prove that a deposit had been made, the fraudsters would fax a copy of an electronic payment receipt that they had fabricated, indicating that a cash deposit had been made.Investigations have revealed that some clients would look on their bank statements by logging into their Internet or electronic banking page and would see the credit and thereafter transfer the refund as per instructions.In other instances the clients accept the information received as true without looking at their statements and transfer as requested.A few days after the deposit Standard Bank Namibia or the other banks would receive a message from their correspondent bank in South Africa advising them that the amount deposited had been unpaid with reason that cheque fraud had been committed.It has been established that cheques had been deposited by the fraudsters and not cash.Invariably the cheques deposited were stolen, washed, cloned or fabricated.In terms of the clearing rules between banks, the receiver of such advices have to debit the account which received the deposit which results in losses to the accountholder, if they had made the refunds.Further investigations have revealed that the accounts to which the fraudsters want the refunds have been opened with fraudulent documentation.In order to save clients from potential loss Standard Bank Namibia & DHL Namibia have advised consumers to adopt the following measures:- * To regard any request for a refund with suspicion, in particular requests being made by individuals/companies with whom they have had no business dealings.* To contact their nearest bank branch or DHL office to verify the genuineness of the deposit made before making any refund.

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