ESWATINI RECORDS E55M LOSS TO FRAUD

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ESWATINI RECORDS E55M LOSS TO FRAUD
ESWATINI RECORDS E55M LOSS TO FRAUD

Africa-Press – Eswatini. National Commissioner of Police William Dlamini has disclosed that Eswatini has lost E55 million through fraud.

Dlamini, who was represented by Deputy National Commissioner Mumcy Dlamini said available statistics showed that over E55 million was lost through fraud in the period spanning from October, 2021 to September which indicated a 0.5 per cent increase when compared to the previous year.

Dlamini said this during the launch of the International Fraud Awareness Week Launch themed ‘Think before you Click’, held at the Eswatini Bank head offices in Mbabane yesterday. He said without doubt, fraud was a scourge that was constantly affecting the financial stability of individuals and businesses in the country.

‘The rerun theme “Think Before You Click” encourages thoughtfulness, soberness and consciousness, and when transacting online,” he said.

The national commissioner stated that the belief was that as more people moved to digital platforms for day-to-day transactions such as the payment of utility bills, chances of users lowering their guard and clicking right away increases, opening a doorway for cyber fraudsters to their cash and savings.

“Therefore, people should always be mindful and alert that one click can result in serious money losses and because of the strong existing link between fraud and cybercrime nowadays, a huge chunk of fraud crimes committed locally have evolved to cyber frauds which can be tracked regionally,” he said.

He added that the Eswatini Bankers Association (EBA) and all stakeholders should be lauded for their resolve and commitment in conducting anti-fraud awareness and education to help reduce the impact of the phenomenon in the country.

“Practical strategies and interventions that have been employed through co-operation and collaboration are evidence that you have consistently championed this campaign,’ he said.

He further added that cyber related fraud scams that were most predominant in the country included ATM Fraud where the victims PIN and debit or credit card numbers were stolen and used to withdraw money from ATMs without authorisation.

“More than E400 000 was lost from 45 cases reported under this scam and over 141 cases of this scam have reported between the period of October, 2021 and September, 2022 on internet fraud,” she said.

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