The Bank of Namibia (BoN) has warned the public about an increase in investment scam activities exploiting references to the government and its ministries, offices and agencies.
According to a BoN press statement last week, these scams target senior public figures, high-ranking government officials, politicians and civil servants, with perpetrators offering unsolicited financial assistance for Namibia’s developmental initiatives.
“The perpetrators claim to possess large investment funds in millions and billions of United States (US) dollars or euros, purporting to finance Namibia’s development and megaconstruction projects,” said acting BoN spokesperson Naufiku Hamunime.
The fraudulent activities involve presenting forged documentation, including copies of Swift money transfers and/or forged payment transactions to local commercial banks.
The scammers allege that the funds are meant for the government’s developmental initiatives.
“The bank has determined that the purported investment transfers via Swift money transfers and/or foreign payment transactions are non-existent, with forged documentation used to create an appearance of legitimacy,” Hamunime said.
Documents associated with these scams exhibit noticeable flaws, such as typographical errors, inconsistencies in information, and the use of fake logos on letterheads from unknown origins.
The central bank clarified that it neither receive nor facilitates transactions on behalf of private individuals, legal entities, or legal arrangements, except when acting on behalf of the government.
Central bank governor Johannes !Gawaxab said Namibia is open to foreign direct investment, accompanied by thorough validation as per domestic laws.
“The integrity of the financial system cannot be compromised. The Bank of Namibia will remain steadfast in upholding its statutory commitment to safeguard the integrity and stability of the financial system and prevent its potential abuse through fraudulent means,” he said.
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