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According to a warning issued by the South African Banking Risk Center (Sabric) there is a current trend occurring whereby criminals are impersonating South African executives such as CEOs and financial directors in order to steal money from companies.

According to the warning issued by Sabric’s CEO, Susan Potgieter, these criminals impersonate senior members of staff and send emails to junior members within the finance departments, instructing them to make an urgent payment to a specific beneficiary. These criminals make use of information sourced from company websites and other digital accounts and platforms in order to impersonate the senior staff in a realistic and believable manner.

In order to avoid becoming a target of this crime syndicate it is imperative that organisations do the following:

  1. Make sure that your company details are secure and that information which should be kept private is not available to the public.
  2. Inform all senior and junior staff members of the criminal activities and instruct them to be vigilant and cautious with their information.
  3. Put an in person or telephonic (voice) protocol in place whereby, before the issuing of any newly instructed payment, the junior staff member must receive in person confirmation from the senior staff member making the request.
  4. Check the sender’s email address carefully to make sure that it is identical to that of the believed sender (every character should match as a false email would usually differ with only one or two characters).
  5. If an attempted fraudulent payment request has been made, report it immediately to senior staff and authorities.

Read more about this in this fin24 Article: https://bit.ly/2oKzFvM

About D & K Management Consultants CC

Established in 1993 by Declan and Kyle Condon – the legacy of the Condon family with their many years of investigative expertise still strongly governs the running of the company today.

Phone: 082 820 5363

Email: saint@intrigue.co.za