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Tom Muleya

Fraud Insight

Enterprise protection has been a nightmare for many entrepreneurs during this prolonged Covid-19 period. 

As many businesses are trying to cope up and or come to terms with changed working conditions, such as working from home and shortened business working hours to control infections, fraudsters have come up with many scams to fleece unsuspecting victims. 

While nations, the majority of people and businesses are focusing more on addressing challenges of coronavirus pandemic, fraudsters are seeing great opportunities for monetary gain. 

The new scam that fraudsters have launched is that of using fraudulent or fake proof of payment (POP) for ordered goods.  

These are scams that are targeted at business people that entail fraudsters normally calling the victim with an international number indicating that they are interested in purchasing goods or services. 

Upon showing some interest to do business with the victim; the fraudsters place a big order for the goods. The scammers would then request the company’s banking details so that they make a bank transfer. 

Once they get the banking details, the scammers prepare a fake proof of payment which they send online to the victim purporting to be a genuine bank transfer. 

Normally the fake proof of payment is sent to the victim after close of banks and towards the weekend well knowing that transfers will take some time to be processed and cleared. 

The fraudsters would indicate to the victim that the transfer will be cleared by Monday. 

The fraudsters would then demand the delivery of goods before the transfer reflects in victim’s bank account, while alleging that they urgently need the goods. 

The unsuspecting victim then delivers the goods to the fraudsters on the strength of a fake proof of payment, only to realise few days later that it was a scam, but goods worth thousands of dollars would already have been lost.

These types of scams are not really new per se, but are very old scams that are reinvented or modified from time to time. In order to avoid falling prey to such scams, I suggest Business people should consider the following measures;

Do not deliver goods to non-regular and trusted clients based on production of purported proof of payment or  transfer before confirmation of such deposit from their bank.

Be wary of clients who exert a lot of pressure for delivery of goods shortly after they make a bank transfer for the goods. Such actions should trigger red flags. 

Quickly report to the nearest police Station if they suspect some form of scam.

Form business forums or social media groups where they share information and appraise each other about new scams on the business market.

Constantly get in touch with the police to get information on new fraud scams.

Have in place an anti-fraud strategy. Lack of it will result in regrettable actions that will bring monetary loss to the business.

Criminology of fraud is a very old profession and fraudsters are changing and modifying their operations daily to keep abreast with the latest trends. 

Business people should equally be proactive and continuously come up with measures that will minimise or prevent fraud.

Get empowered by Fraud Insight and be part of a solution to fraud scams. Watch out for the next issue.

For your feedback, WhatsApp line: 0772 764 043, or e-mail: [email protected]. Tom Muleya is a Detective Assistant Inspector working under the Criminal Investigations Department. Harare.