The FSCA is warning consumers about a rise in money mule scams.
- These scams involve criminals targeting cash-strapped consumers and asking them to use their bank accounts to funnel the proceeds of crime.
- The scammers may also ask for the consumer’s identification documents to open bank accounts on their behalf.
- The FSCA says that failure to protect personal information could lead to imprisonment.
- The authority has urged consumers to report lost or stolen identity documents to the police and the SAFPS.
- Consumers are also being warned not to respond to unsolicited emails or messages from individuals or companies asking for access to their bank account.
- They should also verify any unusual or unexpected deposits with their bank.
- The FSCA says that anyone who suspects that they have been a victim of a money mule scam should contact their bank immediately.