WINDHOEK, Namibia (CU)_ Over the recent past, there has been a surge in the number of Bank Windhoek clients who have been defrauded, with a majority of the old and vulnerable customers being targeted by fraudsters. Between April 2020 and June this year, 64 clients became victims of a syndicate which robbed them of up to N$2.8 million. According to the police, most of the victims were retired government employees or beneficiaries of the Government Institutions Pension Fund (GIPF).
The authorities have now discovered that funds were accessed by fraudster who obtain customer information such as account numbers, postal addresses, cell phone numbers, ID numbers and card numbers through bank employees. This information was used to log into the client’s account on the mobile banking app and the funds were transferred to other accounts via EasyWallet services and other electronic transfers. There were also instances where vulnerable people such as pensioners who require assistance to withdraw funds from their accounts were targeted by rogue bank employees who asked them for their passwords.
Some of the amounts stolen from individual accounts vary between N$291 000 and N$126 000.
“It was determined during the investigation that the Bank Windhoek mobile app was indeed the sole tool used to defraud the clients,” the bank’s forensic official Erastus Kandjii said. He added that most cases were reported from the Omusati and Oshana regions and bank employees are believed to have played a key role in the crimes.
In order to tackle the situation, Bank Windhoek has introduced additional log-in security requirements and other new features from June this year. It has also issued warnings to clients regarding the sharing of personal information, particularly with bank employees. “[…] we would like to urge clients to refrain from sharing their personal banking information such as Personal Identification Numbers (PINs) with anyone, including bank employees, in an effort to curb potential theft and the loss of funds,” the bank’s retail banking services executive James Chapman said. He noted that personal banking information such as PINs would never be requested from clients by the bank.
