A fraud syndicate which operated out of Johannesburg and swindled a US-based company out of around R7.3m was taken down in raids across Johannesburg on Thursday.
Seized vehicles included a Mercedes-Benz G Class Brabus valued at millions and a Mercedes-Benz E 300 valued at more than R1m.A fraud syndicate which operated out of Johannesburg and swindled a US-based company out of around R7.3m was taken down in raids across the Johannesburg on Thursday.
The suspects are expected to appear in the Palm Ridge specialised commercial crimes court on Friday on charges of fraud and money laundering. TimesLIVE understands Hawks investigators sifted through bank records going back to 2018 to untangle the interconnected web of accounts linked to fake identities and money mules spanning continents.
BEC scams are sophisticated scams which usually target third party vendors to gain access to business email accounts after which they divert payments to bank accounts of money mules.Prof Gary Warner, University of Alabama at Birmingham director of research in computer forensics, The romance scam victims believed the source of the millions funnelled into their accounts was legit and they were asked to forward the money to accounts held by alleged syndicate members who used fake online identities to lure lonely women.SA and US law enforcement authorities have jointly cracked down on Nigerian fraud syndicates in SA over the past two years.
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