MBABANE – Millions of Emalangeni swindled from unsuspecting victims by foreign nationals arrested in the country were largely transferred to bank accounts outside Eswatini, says the police.
Investigations by the Royal Eswatini Police Service (REPS) have unearthed that although the operations were conducted in the country, the illicit funds were deposited into accounts outside the kingdom.
The monies were reportedly deposited in countries such as South Africa and Brazil, among others.
Notably, when some of the foreign nationals were arrested, they were found in possession of bank cards issued by foreign banks.
During the raids, local police reportedly managed to recover about E10.2 million from some of the foreign nationals. Investigations into the source of the money are still ongoing.
This was disclosed by National Commissioner of Police Vusi Masango, who said preliminary findings indicate that the country was being used as an operational base while the proceeds of crime were channelled to foreign jurisdictions.
Masango said while arrests had been effected locally, the financial trail pointed beyond the country’s borders, suggesting the involvement of organised transnational criminal networks.
“Our investigations have established that most of the monies that were scammed from victims were deposited into bank accounts held in foreign jurisdictions. This confirms that although some of the suspects were apprehended locally, the syndicates behind these operations are largely based outside the country.”
The commissioner further indicated that the suspects arrested in Eswatini were part of a broader network that relied on local presence to execute scams, while the masterminds remained offshore and out of immediate reach of local law enforcement.
Authorities believe the syndicates are linked to sophisticated online fraud schemes, including the increasingly prevalent ‘pig butchering’ scams, where victims are lured into fake investment platforms after prolonged grooming.
Police sources said the scams typically involve convincing victims to invest in fraudulent cryptocurrency or trading platforms, with initial returns manipulated to appear legitimate before victims are persuaded to invest larger sums.
Once significant amounts are deposited, the funds are quickly transferred to offshore accounts, making recovery difficult.
“We are dealing with highly organised criminal elements who exploit digital platforms to target victims. Members of the public must be vigilant and avoid engaging in suspicious investment opportunities,” he said.
The commissioner added that the police were working with international law enforcement agencies to trace the flow of funds and identify the kingpins behind the schemes.
The revelations come at a time when cybercrime and online financial fraud are on the rise across the region, with neighbouring South Africa experiencing a surge in online gambling and digital financial activities that have raised concerns about illicit financial flows.
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EmaSwati used as front in online gambling scam
MBABANE – EmaSwati who are linked to the illegal online gambling operation were largely used as fronts.
This is according to ongoing police investigations, which have found that the locals did not benefit financially from the proceeds.
This was disclosed by the National Commissioner of Police, Vusi Manoma Masango, when giving a feedback on the investigations, which saw the arrest of a dozen of foreign nationals who were found to have been conducting pig butchering in various places in the country.
Pig butchering is an online scam in which criminals build trust with a victim over time, often through social media or messaging apps – before convincing them to invest in fake trading or cryptocurrency platforms.
The victim is initially shown false profits to encourage larger deposits, but is ultimately blocked from withdrawing funds, resulting in significant financial losses.
Providing an update on the ongoing probe into the arrest of well over 100 foreign nationals, Masango said police findings indicated that while some locals were implicated, their involvement was mainly limited to logistical support such as sourcing accommodation and identifying operational premises.
“The emaSwati who have been linked to this matter were used as fronts. They were not the beneficiaries of the proceeds. The money generated from these activities was channelled to kingpins,” said Masango.
The commissioner’s remarks shed further light on the structure of the syndicate, which has been described as a highly organised international network involved in illegal online gambling and sophisticated cyber fraud schemes.
The developments follow a series of raids conducted by the Royal Eswatini Police Service across several locations, including parts of Mbabane, such as Woodlands, Hawane and the central business district, where multiple operational bases were uncovered.
*Full article available on Pressreader*
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