SCAM ALERT

The Non-Bank Financial Institutions Regulatory Authority (“NBFIRA”) cautions members of the public against fraudsters who may approach them with the intention of obtaining their personal documents under the pretext that they will be opening building material accounts for them.

The fraudsters’ modus operandi is as follows:

• They target newly employed individuals, by befriending them with the intention to later defraud them.  
• The fraudsters then create a false and deceitful narrative to obtain the following documents and information; Copy of National Identity Card/Passport, payslip, bank statements, account number, contact details and details of next of kin.
• The fraudsters work closely with some loan officers and agents of micro lenders to apply for loans using the fraudulently obtained documents. 
• They would then inform their victims that they are expecting payment which would be credited to the victim’s account.
• Once the funds from the loan are credited into the accounts of the victims, the fraudsters would request the victims to withdraw the funds and hand them over.
• The victims of such scams usually realise that they have been defrauded when they receive notifications for deductions of the loan instalments from their accounts at a later date.

The Regulatory Authority advises the public to take precautions against such scams and avoid sharing their personal documents and information with strangers. Whenever in doubt, members of the public are encouraged to contact the micro lenders on the contact numbers provided on the NBFIRA website at https://www.nbfira.org.bw/regulated-entities-1 .

For any enquiries contact the Regulatory Authority at:

Telephone: +267 3102595 / 3686100

Email: info@nbfira.org.bw