WHAT THE EXPERTS SAY

While most classifieds sites do provide precautionary info, it is often scant (one site simply says ‘Warning: be aware of fraudsters’), not abreast with scams doing the rounds (a major site doesn’t have any specifics about false payment methods) or not visible enough. These sorts of cons aren’t new – yet people are still being drawn in.

‘Humans are vulnerable to social engineering,’ says Kalyani Pillay, CEO of the South African Banking Risk Information Centre (SABRIC). ‘It’s a form of manipulation used to capitalise on a victim’s inclination to trust. Fake payment notification scams are a significant problem, which is why SABRIC creates awareness on our website and social media channels.’

Frikkie van Greunen is a senior claims consultant for Telesure and a former police investigator. He was the assessor on Michael’s insurance claim, which was paid out for what the insurance company deemed a clear case of vehicle theft. ‘This happens more frequently than one may think, especially in Gauteng,’ says Frikkie. ‘We deal with about two or three similar incidents a month in Cape Town.’

Advertising portals are popular platforms for syndicates, which scammers are usually part of, and their modus operandi varies little, whether they’re ‘buying’ a phone, computer or car. The syndicate contacts the seller and sets up a meeting, usually just before the banks close, Frikkie says.

‘The fraudster often creates a sense of urgency, saying they can do the purchase now or not at all,’ Kalyani adds. ‘They then falsify or replicate an SMS or PDF

proof of payment containing fake payment details. To make it look legitimate, the notification will have a reference number, the name of the seller’s bank, the last four or five digits of their account number and a helpline number.’

‘They could also deposit a cheque,’ Frikkie adds. ‘So the SMS from the bank is legitimate, but the cheque bounces due to insufficient funds. Or the scammer cancels the cheque before it clears.’