Financial Crime World

Falsification of Employees’ Lists for Loans Rocks Tanzanian Company

Peertech Company Accused of Financial Fraud

A shocking scandal has emerged involving Peertech Company, which allegedly falsified lists of eligible employees to secure loans from major banks in Dar es Salaam. The company is accused of creating and forging contracts, salary slips, and work IDs to deceive the lenders.

Allegations Against Peertech

  • Submitted forged documents to NMB, CRDB, DT Bank, and all BOAs in Dar es Salaam
  • Raised concerns about the integrity of the financial sector in Tanzania

Financial fraud is a pervasive problem that can have devastating consequences for individuals, businesses, and entire economies. It undermines public confidence, distorts national security, and disrupts economic activity.

Healthcare Fraud in Tanzania

  • The country’s National Health Insurance Fund (NHIF) reported paying out TZS 600 billion worth of claims, but after scrutiny, only TZS 477 billion was deemed legitimate
  • Identified several instances of fraudulent claims, including:
    • Men receiving caesarean and normal delivery services
    • Members receiving full blood picture examinations more than once on the same day
    • Others receiving spectacles multiple times a year

Drug Trafficking in Tanzania

  • The country is a major transit point for heroin from southwest Asia
  • Dar es Salaam port is used as a launchpad to control the trade in East Africa
  • Authorities have arrested several individuals involved in drug trafficking, including:
    • Two Iranian nationals convicted of smuggling 111.02kg of heroin and 235.78 grams of cannabis resin

Conclusion

These cases highlight the need for increased vigilance and cooperation between law enforcement agencies, financial institutions, and healthcare providers to combat fraud and protect the public interest.

Related Stories

  • “Tanzanian Company Accused of Falsifying Employee Lists for Loans”
  • “Healthcare Fraud Exposed in Tanzania’s National Health Insurance Fund”
  • “Drug Trafficking Remains a Major Threat to Public Health in Tanzania”