The Bank of Namibia (BoN) has issued a public warning against fraudulent investment schemes that falsely claim to provide financial support for Namibia’s development projects.
This comes after the bank observed an an increase in such fraudulent schemes.
“These international actors often present enticing opportunities, such as billions in humanitarian funding with no interest or collateral requirements.
They misrepresent themselves by using the names of government offices, ministries and agencies to lure individuals and institutions into participating in illicit activities,” the bank said in a media statement released on Tuesday.
These schemes target high-ranking government officials, ministries, traditional and religious leaders, and prominent public figures, exploiting their reputations to lend credibility to the fraudulent offers.
According to the bank, the fraudsters claim to have access to large sums of money, which they present as investments intended to finance Namibia’s economic development and major construction projects.
They use forged documents, including falsified SWIFT transfers and fake money order payment confirmations, to deceive people.
“All documents presented by some unsuspecting Namibian nationals are fraudulent, often riddled with typographical errors, inconsistencies and logos sourced from questionable origins.
These clear warning signs indicate that the investment offers are scams aimed at exploiting unsuspecting individuals,” the bank’s statement read.
The BoN urged the public to remain vigilant and report suspicious investment schemes to the bank, the Financial Intelligence Centre, or the police.
The bank also emphasised its commitment to remaining vigilant and taking all necessary measures to protect Namibia’s financial system from being exploited by such deceptive schemes.
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