How SA fraudsters exploit personal data

FRAUDSTERS paid South Africans as little as R200 to hand over their personal details — including ID photos - which were then used to open bank accounts later linked to fake investment schemes.

- WENDY DONDOLO

Now, the Pretoria High Court has granted a R44 million forfeiture order to the National Prosecuting Authority’s (NPA) Asset Forfeiture Unit (AFU) after uncovering the scam.

The accounts, held across 24 different banks, were used to funnel money for so-called “multiplication” investment schemes with names such as Trouva, Centamin, Hot Farm and Benchmark Woodworking. According to NPA spokesperson Lumka Mahanjana, the bank accounts were opened in the names of unsuspecting South Africans who were duped into providing their personal information to fraudsters.