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Tom Muleya

 Fraud Insight

It is disturbing that the integrity and image of some organisations have been tainted as several bogus entities are being set up to perpetrate criminal activities.

Similar to the biblical warning of Jesus Christ in the book of Matthew 24: 24, that there were also false prophets among the people, so there are fraudulent businesses among legally established organisations.

In the wake of these developments, the public is warned to take or consider doing due diligence as a critical measure to prevent loss.

Fraudulent business entities appear to be genuine, more modern and competitive, but the ultimate goal is to fleece innocent people who fall for their tricks. 

Many people are still counting their losses in a recent cement scam.

A cement shop was set up in Harare and offered low prices for the commodity.

Because the company was set up in the city centre, with registration papers on the walls, and advertising on local media platforms, victims never doubted if the offer was genuine.

This case was just a tip of the iceberg. 

Chief culprits are those businesses involved in offering services or products that require advance payment from clients.

To avoid dealing with a rogue or fraudulent business entity, consider the following measures;

Exercise extreme caution. You may be dealing with a company which you have little or no information about its history so it is encouraged to tread carefully. Every effort should be made to safeguard your money. More so, fraudsters are everywhere competing with genuine businesses.

Play detective mind set. Criminals are not easy to identity because there is nothing written on their faces so visible to warn you that they are fraudsters. So you need to pay critical attention to every detail. You need to carry a search on the slight behaviours and all indicators or red flags of fraud.

Treat every transaction that involves advance payment as a red flag. Although there are businesses that require advance payment for services and products, many fraudsters have hijacked this type of business model to fleece innocent people. That is why treating it as a red flag may even help you to pause and think critically before forwarding money.

Do due diligence process. Ensure that you avoid any shortcuts as this may result in loss. All business ethics should be dully followed.

Contact the police. As soon as you suspect that something is amiss and the business may be a scam, do not hesitate to advise the police.

Join in the fight against fraud perpetrated by fraudulent businesses, and create a safe environment and crime free Zimbabwe. 

Think security and safely deal with businesses locally and abroad. Watch out for the next issue. 

Tom Muleya is a Detective Assistant Inspector working under the CID Commercial Crimes Division and also a member of the National Cyber Security Awareness Taskforce, Zimbabwe. Feedback: WhatsApp line: 0772 764 043, or e-mail:[email protected].