Fraudulent Transactions Identified in Namibia

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The Bank of Namibia has issued a warning about a surge in fraudulent investment scams targeting government officials, politicians, and senior public figures. These scams involve fake financial assistance offers that use references to government ministries, offices, and agencies to promote illegal activities.

What’s Behind the Scams?

Fraudulent investment scams are offering unsolicited financial aid to fund Namibia’s development initiatives. Perpetrators claim to possess large sums of money valued in millions or billions of US dollars or euros. They specifically target high-ranking officials, politicians, and civil servants with fake promises of investment opportunities.

How Do the Scams Work?

Scammers present forged documentation, including:

• Copies of SWIFT money transfers
• Payment transactions purporting to show funds received for government developmental initiatives

These fraudulent documents are used to deceive victims into parting with their money.

What Can You Do?

To curb this growing menace, authorities urge the public to be vigilant and report any suspicious transactions or investment opportunities that seem too good to be true. The Bank of Namibia is working closely with law enforcement agencies to identify and prosecute those behind these fraudulent activities.

Take Action

• Be cautious of unsolicited financial assistance offers
• Verify the authenticity of documents and transactions before making a decision
• Report any suspicious activity to the authorities
• Don’t hesitate to seek advice from trusted sources before investing in any opportunity