FRAUD CASES: E398M STOLEN; 5 ARRESTED

MBABANE – A staggering E398 799 405.49 in losses due to fraud has been reported in the country.

This alarming figure was revealed by the National Commissioner (NATCOM) of Police, Vusi Manoma Masango, during the launch of the 2024 Fraud Awareness Campaign, held at the Royal Villas yesterday. The commissioner highlighted that the fraudulent activities were reported between November 2023 and October 2024. Despite the significant losses, there is a glimmer of hope as law enforcement has made progress in addressing this issue. A total of five suspects have been arrested in connection with five successfully investigated cases.  
The banking industry has also been affected by these fraudulent schemes. Nine cases reported by banks resulted in losses exceeding E7 million.

Combat

As authorities continue in their efforts to combat fraud and protect the public, it is crucial for individuals and businesses to remain vigilant and take necessary precautions to safeguard their financial information. In his speech, the NATCOM said police participation in such initiatives is partial fulfilment of their mandatory obligations, as frontliners/first responders in crime prevention and crime detection. “This campaign presents the perfect opportunity for all sectors involved in the fight against fraud and its underlying effects.” said the NATCOM.

He lauded the Eswatini Bankers Association and all stakeholders who were present for their resolve and commitment to conducting anti-fraud awareness and education to help reduce the impact of the phenomenon in the country.  “We have seen the practical strategies and intentions that have been employed through cooperation and collaboration with various stakeholders. The dynamic nature and rapid advancement in technology and mass migration to digital platforms of communication have resulted in the fraud phenomenon assuming a much more complex dimension that cannot be comprehensively dealt with by regular law enforcement agencies alone”, said Masango. 

He pointed out that this, therefore, calls for integrated approaches, strategies and collective responses from various stakeholders to effectively counteract and/or combat emerging fraudulent crime trends.  According to the NATCOM, it is now evident and most advisable that stakeholders pool their resources, create platforms/form alliances to share information and promote public awareness with the aim of eradicating all forms of fraud from grassroots level. “At the moment, the public may be advised also to be vigilant and on the lookout for other cyber-related fraud scams that are being perpetrated in the country. The highest form being investment fraud, whereby there was a total loss of E231 220 000. The second form is commercial fraud, which had over E58 million lost by companies and organisations,” said the NATCOM.

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