New 'change of banking detials' scam hits freight industry

Quick-thinking and a risk management plan saved a Namibian freight company from losing almost R500 000 in a ‘change of banking details’ scam which reportedly cost Namport R1.2 million earlier this year. The scammers send out an email letter, on the scammed company’s letterhead, advising customers of a change of banking details. The unsuspecting customers then transfer funds owing into the new account. Gert Liebenberg, owner of the Windhoek-based Hardap Freight Services (HFS), told FTW that the serious crime unit at the Namibian Police Force (Nampol) had told him that a syndicate was operating the scam, confirming that there had been several other incidents where companies had lost large amounts of money Liebenberg said one of his clients had received an e-mail letter – on an old company letterhead with the old physical address – advising them that the company’s banking details had changed and that all payments needed to be made to the new account. “Our clients, The Namibian, owed us close to half a million rand as we handle the country-wide distribution of the daily newspaper,” he said. The circulations and operations manager at the newspaper, Hofney Kanadjembo, received the letter and was aware that HFS had a policy that only Liebenberg himself notified of any major account changes. “Another reason I was suspicious was that the e-mail address was off – it was a generic Google one,” said Kanandjembo. HFS had also just recently changed banks from Standard Bank to the Bank of Windhoek which was another red flag for him and he immediately contacted Liebenberg directly. Liebenberg has opened a case of fraud with Nampol and it has emerged that the fraudulent account number – 1006 390 0775 with branch code 051 001 – is from Absa bank in South Africa, and not Standard Bank as advised in the scam letter. He told FTW it was “possible” that the syndicate relied on inside knowledge but that it was not proven at this stage. Chairman of the Bankers’ Association of Namibia, Christo de Vries, said that the association was aware of the scam. He noted that a quick response from clients and their reporting of the various scams enabled the banks to respond more quickly and warn other clients as well. “Unfortunately Phishing scams are on the increase and therefore the Bankers’ Association will continue to create awareness amongst the clients of banks on the different types of financial fraud. This will ensure that clients are more alert and are able to recognise fraudulent schemes and scams.”