Scammers using Capitec bank accounts as so-called business accounts

Fraudster pay so-called money mules to open bank accounts, and when the victims’ money lands in that new account, they transfer it to the fraudster, thereby ensuring that the fraudster remains untraceable.
“Capitec does not currently offer business accounts, therefore people should not believe a business that states it has one,” the bank said.
"Should consumers fall victim to fraud – or even if they don’t fall victim to the attempt – it is important to contact the bank to report the incident.”
Capitec’s 24-hour call centre on 0860 10 20 43.
It’s the same story with African Bank - the bank only has personal accounts, not business ones.

Take a listen to how to avoid this scam.
12 Aug 2021 English South Africa Leisure · Business

Other recent episodes

How to deal with Fourth Wave related cancellations

After the discovery of the new COVID-19 variant, Omicron, so many people had to come up with Plan B in terms of their travel plans. That would mean cancellations for everything one might have prepared whether it be going out of SA or coming in. Take a listen as Wendy…
2 Dec 2021 6 min

This is how to NOT do Black Friday

With Black Friday on everyone's lips, it's everywhere on radio and television and on our phones, it is easy to be swept up by the hype. Consumer journalist, Wendy Knowler shares some valuable information regarding ways to stay safe financially during Black Friday. Do it all correctly. Take a listen…
25 Nov 2021 3 min