Telkom warns of cheque fraud

“During this time of the year, fraudsters will increase their attempts to try and prey on the unsuspecting customers, leaving them out of pocket,” said Thokozani Mvelase, Executive for Telkom Assets and Revenue Protection Services (TARPS).

In general, said Mvelase, the fraudsters operate by first depositing a stolen or counterfeit cheque into a customer's account.

Then, on a false Telkom letterhead, the fraudsters inform the customer that the initial deposit into their accounts (via the counterfeit cheque) was an erroneous refund from Telkom.

“These letters are either faxed or e-mailed to the customer. This is often followed up with a telephone call requesting the customer to expedite the refund,” explained Mvelase.

Customers are then requested to transfer the amount into an account that is falsely identified as Telkom's.

“However, this account is obviously held by the fraudsters,” cautioned Mvelase.

This transaction usually happens before the initial cheque deposit is cleared by the bank.

Consequently, the customer's account will be debited with the amount on the cheque while the initial cheque deposit is declined by the bank.

The fraudsters would, in the interim, have withdrawn the cash from the so-called “Telkom” account, thus leaving the customer out of pocket for the value of the initial cheque deposit amount.

“To ensure that our customers do not fall victim to these fraudsters, I would like to urge the public to be extremely vigilant especially if they receive unknown cheque deposits into their bank accounts,” said Mvelase.

It must be stressed that Telkom does not conduct its business in this manner when making re-imbursements.

“In the event of a credit, Telkom passes it to the next month's account,” said Mvelase.

Another way customers can prevent such attempts is to call Telkom at 10210 to confirm if the company has made any such payments.

“Finally, members of the public are urged to contact Telkom's fraud hotline on 0800 124 000 or the nearest police station in order to report the receipt of such a letter or telephone call requesting a refund,” said Mvelase.

Article published courtesy of BuaNews