Man loses R300 000 in sim swap scam that's on the rise

An 85-year-old pensioner had R300 000 stolen from his Nebdank account last week in a sim swap scam.

The man's son, who would rather not be named, wrote to CapeTalk host John Maytham to relay the experience.

Forensic investigator Dr David Klatzow says the sim swap scam has become more prevalent over the past three years.

Also read: Sim swap scam: "They get the pin number and then clean out your account"

The victim received an SMS from his network service provider about his number being ported to another network operator.

When his number was ported back some days later, he lost access to his internet banking service.

The following day, the bank established that two amounts of R150 000 had been transferred out of his account.

The scam is a collaboration which involves the banking and the cellphone industry, Klatzow explains.

He says that scammers exploit negligence when it comes to personal information and weaknesses in Rica regulation.

Klatzow has warned consumers to never give personal information out on the phone to anybody.

Read more: Beware of con artists who scam women on dating sites - forensic investigator

There's negligence and dishonesty in both sectors.

Dr David Klatzow, Forensic scientist

It involves being able to identify where the money is... There's a dishonest element within the cellphone industry.

Dr David Klatzow, Forensic scientist

Personal information should never be given out to strangers on the phone.

Dr David Klatzow, Forensic scientist

Take a listen:


Recommended

by NEWSROOM AI
Read More
Zim rescuers desperate to retrieve bodies of loved ones after Cyclone Idai

Zim rescuers desperate to retrieve bodies of loved ones after Cyclone Idai

The cyclone hit Zimbabwe a week ago and rescuers are still struggling to access some areas to establish an official death toll.

IEC to accommodate Muslims observing Ramadan during elections

IEC to accommodate Muslims observing Ramadan during elections

The Muslim Judicial Council says the IEC will facilitate the time for the observance of prayer and breaking of the fast at sunset.

Beware of con artists who scam women on dating sites - forensic investigator

Beware of con artists who scam women on dating sites - forensic investigator

Dr David Klatzow warns women using dating sites not to fall prey to a fraud scam which has come to the attention of the Hawks.

Beware: How property fraudsters use fake emails to scam you

Beware: How property fraudsters use fake emails to scam you

Fraudsters create virtually identical email addresses asking for payment from clients into a 'new' bank account and then abscond.

Invoice email scam targeting local businesses (and top precautions to take)

Invoice email scam targeting local businesses (and top precautions to take)

Consumer journo Wendy Knowler warns business owners about a scam in which invoices are intercepted and bank accounts changed.

Is your business listed in the white pages? Beware of scammers posing as Telkom

Is your business listed in the white pages? Beware of scammers posing as Telkom

There's a scam that's targeting small business owners with listings in Telkom's white or yellow pages, warns Wendy Knowler.

Popular articles
Why flights between JHB and Cape Town could become a few minutes longer

Why flights between JHB and Cape Town could become a few minutes longer

SA Flyer Magazine editor Guy Leitch explains the impact of the Northern Cape SKA radio telescope on flight times.

 Allow farmers to go off the Eskom grid and turn to solar power - Agri SA

Allow farmers to go off the Eskom grid and turn to solar power - Agri SA

Agri SA’s Nicol Jansen, explains how SA's agricultural industry could benefit if more farms were allowed to go off the Eskom grid.

NG Kerk minister condemned for showing solidarity with Christchurch victims

NG Kerk minister condemned for showing solidarity with Christchurch victims

NG Kerk dominee Riaan de Villiers says he was told he is not allowed to call Muslims our brother and sisters, and children of God.

'South African society even more unequal than under apartheid'

'South African society even more unequal than under apartheid'

Independent consultant at the Thabo Mbeki Foundation Professor Barney Pityana blames political leadership for the moral decay.

[WATCH] Chaos as suicidal SA pilot crashes plane into clubhouse

[WATCH] Chaos as suicidal SA pilot crashes plane into clubhouse

Khabazela shares tweets and Facebook posts that have gone viral.

Paramedics fear for their lives as attacks on EMS crews continue

Paramedics fear for their lives as attacks on EMS crews continue

An ambulance crew was held at gunpoint, assaulted and robbed of their belongings while on a call out in Khayelitsha.

DStv subscription price hikes for 2019

DStv subscription price hikes for 2019

MultiChoice will increase the prices of certain DStv packages from 1 April.