This deposit refund scam is when criminals contact you telling you that an amount of money was deposited into your bank account by accident. Standard Bank warns against this new scam.
The idiot deposits a fraudulent / stolen cheque into your account and then calls you and claims that
- funds were mistakenly deposited into your account or
- the incorrect amount was paid into your account and you have been overpaid in respect of an order which you had in fact received.
The caller will ask you to refund the amount and will in turn fax a proof of payment to you. The ‘proof’ is either a copy of a deposit slip or an altered Internet banking payment confirmation. This is obviously very easy to do with today’s technologies.
If you look at your bank statement, it will show the transaction as a ‘Cheque Deposit’ and not an ‘Internet Banking Payment’. So after you have refunded the money electronically, you will never see it again following the reversal of the fraudulent deposit by the bank. Be very careful.
How you can avoid this:
- Always make sure that deposited cheques are legitimate.
- Request a special clearance on cheque deposits or wait until they have cleared completely.
- Do not consent to the request.
- Verify with your bank whether the transaction is valid.
- Question whether the deposited cheque has been stolen.
- Do not refund any monies until the cheque is fully paid/cleared.
- Check that the proof of payment and your statement details add up and reflect the same reference details.
- Never accept a notification of this nature as proof of deposit; rather obtain written verification from your bank before taking any action.
These scammers even have bank accounts with fake names. It just shows how corrupt some people in the actual banks can be to issue them with debit cards illegally and that is just one example. There was even a story where somebody opened an account with a copy of their id book and the other one had a fake id book which was all of a sudden overlooked by the bank staff member. After speaking to a bank manager, there are a few good ways to make sure the fake ID books will not work and to actually verify the person indeed is the one in the ID book.
Anyways be careful people and don’t forget to like our Face Book page on the right hand side of this website. The more people who know about us, the more this news can be spread.