A reverse deposit slip scam could be costing consumers thousands of rands, the South African Banking Risk Information Centre (Sabric) said on Thursday.

According to Sabric, the criminals, dubbed the 'the weekend gang' responded to advertisements in newspapers or on the internet, and then deposited a fraudulent cheque into the seller's banking account.

This was normally done just before close of banking business on a Saturday, said Sabric spokesperson, Mbali Msimango.

A fake proof of payment is then sent via email to the seller depicting an Electronic Funds Transfer.

While the amount is reflected in the individual's account, it will show that it has not yet cleared.

There is no way of checking with the bank after it has closed, said Sabric chief executive Kalyani Pillay.

Fraudsters are responding to adverts

"The transaction is processed well after the fraudsters have collected the goods," said Pillay.

"Fraudsters are responding to adverts all over the country; in newspapers and on the internet. The banking industry and Sabric are working with the SAPS and hopefully these criminals will soon be behind bars," she said.

In one case a man placed adverts for goods and received three calls from alleged gangs.

"They (the gangs) always want to make the deal on the weekend and each time suggest their driver should collect the goods," said Pillay.

Consumers were advised to only release goods once the money had cleared with the bank, even if that meant waiting several days to check if the deposit was made, said Sabric.

Sapa

Print this page
Send this article to a friend
RSS
de.li.cious
facebook