Life savings lost to crypto fraud?


Life savings lost to crypto fraud?

Said to have been executed by a KZN fraudster on the laptop of an unwitting West Coast estate agent.

In June 2015 Sport co-ordinator Petrofski Williams and his wife Denelle decided to invest their life savings in purchasing a house in Langebaan Country Estate that had been introduced to them by the local Seeff estate agent, Marelize Huysamen.

Like to see more ?


Subscribe to our on-line edition !

For a mere R305.00 per year you get the convenience of our online version including:
  • Twelve monthly issues of Noseweek delivered to your browser
  • A searchable archive
  • Access to every back issue since 1993 !
  • A downloadable PDF version

If it’s just the article you are after, you can purchase it by clicking here.

Tempted ?


For a taste of what awaits you, you are welcome to browse this free issue.

Share this article:

Reader's comments

Like to add your own comment ? Please click here to subscribe - OR -
 
Submitted by : Fraud Victim on 2021-04-12 16:15:51
This quote is instructive: "Nedbank refused to disclose the identity of their account holder who unlawfully managed to pocket the R900,000. Why not, we wonder."

My business was hit by a similar fraud last year and the amount was paid into an ABSA account. Despite our best attempts, ABSA still steadfastly refuses to divulge the identity of the account holder. This would greatly simplify the process of obtaining justice but the banks refuse to cooperate.

In a multitude of similar cases the amounts are paid into bank accounts which are subject to FICA regulations which implies either that the FICA process of the banks are woefully inadequate or that these are inside jobs.

The banks know full well that their accounts are being used fraudulently but they refuse to cooperate when their good faith client gets fleeced. I'm sure they are hiding behind a piece of legislation designed to improve privacy but something is very wrong with the way this is being applied.

The banks are effectively enabling fraud while escaping liability - I think it's worth an article or two.

Disclaimer

While every reasonable effort is taken to ensure the accuracy and soundness of the contents of this publication, neither the authors nor the publishers of this website bear any responsibility for the consequences of any actions based on the information contained therein.