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Tag: Fraud

Alleged Fraudster Generates $20 000 Worth Of Fake EcoCash Payments

We’ve talked about fake EcoCash payments before, here and more recently here. Another case of EcoCash related cyber-crime has occurred with a Bulawayo based man being accused of defrauding a supermarket after faking EcoCash payments to the tune of 20 000 on different occasions. He is said to have approached the employees at the supermarket […]

Fraudsters Using Fake EcoCash Messages To Fool Retailers

Recently a group of fraudsters in Victoria Falls was arrested for buying goods using fake EcoCash confirmation messages to fool retailers and buy alcohol. It is the state’s case that Ngwenya was bragging about how he was able to buy goods using an edited Ecocash message and he taught his friends the trick. They tried […]

“Beware Of Scammers,” EcoCash Warns Users

EcoCash has warned users of fraudulent scammers exploiting investment schemes. We’ve all heard that if something is too good to be true, it probably is. Unfortunately, people still fall for schemes that promise quick and huge returns. The warning from EcoCash reads: Fraudulent Investment Schemes Beware of FAKE investment schemes operating in the market. Some […]

As Card Cloning Shows No Signs Of Slowing Down, POSB Will Stop Offering Balance Enquiries On Zimswitch

Due to the rise of Card Cloning in the country in recent months, People’s Own Saving Bank (aka POSB) is now taking steps in order to ensure they help customers to avoid scammers. With Zimbabwe’s (literal) shift to a cashless economy, card cloning schemes have become more popular and it seems most consumers are not […]

Suspected Card Cloners Arrested Including Chiyangwa’s Nephew

It seems cases of card cloning are on the rise. Three months into the year, debit card holders had already lost $200 000 to perpetrators of bank card cloning. Now it’s being reported Philip Chiyangwa’s nephew –Mike Harris Chiyangwa- was arrested (for the third time) on allegations of cloning people’s bank cards. Mike Harris Chiyangwa […]

Standard Chartered Zimbabwe phases out debit cards that use magnetic strip

Standard Chartered Zimbabwe is phasing out the use of magnetic strip in debit cards. From the 15th of May onwards, these cards will no longer work. Customers of the bank have been asked to get the newer chip and PIN cards which are more secure.  Cards with chips are already widely accepted globally. In Zimbabwe a number […]

POTRAZ warns of increase in crime

POTRAZ today issued a statement warning Zimbabweans to look out for fraudster using mobile phones to con people. Such fraud is on the increase they say. Here’s the full statement: The Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) would like to advise the public of the increase in cases of members of the public falling victim to cyber […]

Why are these mobile money fraudsters difficult to catch?

In an advice article published in the Sunday Mail today (read it so you don’t fall prey), the police warned readers that fraudsters in Zimbabwe are now using mobile money services like EcoCash, Telecash, OneWallet and others, to conveniently take money from victims. A common trick, says the article, is one targeted at job seekers who […]

Addressing Revenue Assurance in telecoms

According to a market research report released by global research firm, Frost & Sullivan (May 9 2011), Zimbabwe’s mobile communications revenue will reach US $ 1.34 billion by 2016, with 20.1% compound annual growth rate. This is only achievable if these firms consider and monitor tightly the revenue assurance cycle. Let’s look at the prominent areas in depth;

Overview of fraud and revenue assurance in telecoms

In the broadest sense, fraud is “a criminal deception intended to gain money or personal advantage”. Fraud is a big problem for many businesses and can be of various types. Inaccurate credit applications, fraudulent transactions, identity thefts and false insurance claims are some examples of this problem.

Telecel Zimbabwe’s Board Suspends Acting Chairperson, Jane Mutasa

Telecel Zimbabwe’s board of directors has announced that its acting chairperson, Jane Mutasa, has been suspended from the board to enable her to defend herself against the criminal charges that have been preferred against her in Zimbabwe.

The following statement was issued after a board meeting that took place today:

“At the extraordinary board meeting of the Board of Telecel Zimbabwe, held on March 19, 2010, the directors resolved to suspend Mrs Mutasa as director of the company to afford her an opportunity to defend herself against the charges that have been preferred against her by the state following allegations of fraud brought to the police by the company.

Telecel Unearths Recharge Cards Fraud Worth US$ 1.7 Million

Telecel, the second largest mobile operator in Zimbabwe, confirmed today that it has unearthed a recharge cards fraud case amounting to US $ 1,7 million.

The unscrupulous Telecel employees involved in the case, swindled the company through issuing recharge cards and starter packs using manual invoices, an invoicing method long banned by the company.