Business crime on the rise

2016-05-10 06:00

BUSINESSES are being targeted by a syndicate and are losing millions to the robbers.

The modus operandi is that the business targeted will receive an email that appears to be from a supplier. Attached to the email is a letter from the bogus supplier’s accounting department, which states that the supplier has changed its bank details and the targeted company must update their records to reflect the new banking information.

To make this appear more authentic there is a letter from a major bank attached to the email that validates the new banking information.

"This is a professional syndicate, they have very good intelligence, are computer savvy and allegedly have members inside banks and delivery companies that assist and feed them information,” said Hillcrest private investigator, Rick Crouch.

“They know who to target and know the targeted companies’ suppliers.
“They also know that these companies pay their suppliers in excess of R1 000 000 on a monthly basis. I would suggest that if a company receives such an email from a supplier, they must call the supplier to verify, but do not use information on the email or letter, call them on the number the targeted company already has for them.

“We are working on cases like this right now and would request that if any business anywhere in the country has been a victim of this type of fraud, or if they have received a similar email or letter, they should contact us with details as we are trying to link all these cases so that the police can make arrests.

“We keep all information confidential, we also understand the sensitivities involved with businesses not wanting it to be known that they have been a victim of a fraud." -supplied.


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