Coal Theft
Syndicated Coal Theft in SA
September 28, 2016
White-collar Criminals Vulnerable When Bust
September 28, 2016
Show all

Business Identity Theft

We are investigating business Identity theft related issues on a regular basis. The most common incident is whereby a fraudster normally operating in a syndicate takes on the identity of an existing business utilising information that they have obtained over the internet. They then contact another business and ask for credit. Many businesses do not check these credit applications carefully enough and merely grant the credit based on the fact that a company applying for the credit seems to be a well-known brand.

In the latest incident that occurred last week a client released R 150 000.00 (One Hundred and Fifty Thousand Rand) worth of equipment to fraudsters believing that they were an existing company based in Pretoria. The only checks they had done was in fact to check the company existed on the website and to phone to ascertain that the company was in business. The company looked large and profitable on the website and as a result our client released the goods to the syndicate. The same syndicate falsified a payment advice to the client which they had insisted upon prior to release of the goods, however they released the goods without checking that the payment was in fact in their bank account.

This type of incident is common and further enquiries proved fruitless and there is no doubt that in this case the syndicate had utilised the identity of an existing business in order to con another business to provide them with credit and / or release goods with a false payment advice.

Many businesses do not conduct the proper checks in order to release goods and should be warned not to enter into last minute transactions without checking proper receipt of funds.

For more information on Identity Theft visit

Michael Barker

Leave a Reply

Your email address will not be published. Required fields are marked *