TZANEEN: Retailer explains money transfer process
LETABA HERALD recently reported on cash money transfer transactions done at PEPhome and PEPcell stores at the Tzaneen Crossing Mall only for the intended recipients to discover that the money has already been withdrawn.
Money transfers can be done in South Africa and cross-border at any PEP, PEPcell and PEPhome retail stores after which it is available at any PEP store, Absa Bank or Shoprite / Checkers store.
According to the Communications Department at PEP head office, several cases of money transfer theft were reported in the last couple of months, which has prompted an investigation.
After investigating some of these cases, two different types of Modus Operandi were identified in order to commit the criminal offence. The first is called a Phishing Scam and occurs when a criminal telephonically contacts a customer that has just completed a money transfer transaction. The offender poses as a staff member and informs the customer that there was an error with the money transfer and that new money transfer details will be issued.
The villain is convincing enough and is eventually able to obtain the customer’s original money transfer details. Once the information is obtained, the money transfer funds are then withdrawn. Shoulder Surfing is the practice of spying on a customer / staff member while they are processing the money transfer transaction.
The criminal unsuspectedly stands in the store from a position that makes it possible to zoom in on the toll slip and / or Pin pad, using a cell phone camera to steal the customer’s money transfer withdrawal details. Once the criminal obtains this information, the funds are redeemed / stolen immediately.
PEP/ Absa have done the following to help reduce money transfer fraud / theft: Reduced the size of the font on the money transfer receipt to make it more difficult for criminals to zoom in and steal the information. Removed all customer personal information (cell number, ID number) from the Point of Sale (POS) pole display, to ensure that no one else can obtain the information. Constantly looking at how to make money transfers more secure to protect their customers. It should be noted that it is not possible to re-print the slip with the 10-digit withdrawal number on, nor does this number reflect on the system / till.
The money transfer service is facilitated by PEP with Absa Bank the hosting entity of the funds under their regulatory licence for this service. When customers do a money transfer, they are transacting via an Absa account on the back-end. PEP is a division of Pepkor Trading (Pty) Ltd and a juristic representative of Absa Bank, as an authorised financial services provider (FSP292). To report a theft or fraud, the following process should be followed: The customer must report the matter to the Store Manager in order for this person to log the fraud claim. These incidents are eventually logged with the Absa Fraud and Forensics team.
Note: the store manager will not be able to do anything further, their obligation is to guide the customer on the process and to log the fraud claim. The customer must open a case with the local SAPS and once the case is opened, SAPS will appoint an investigating officer. The investigating officer will Subpoena Absa bank for information of the withdrawal and for footage where applicable.
Where requested, PEP will also support the investigation by supplying information and footage where applicable Note: When a case is opened, it becomes an official SAPS matter and PEP is dependent on the SAPS to provide them with guidance and to identify patterns in order to solve various cases.
Further Note: As money transfer is a cash sending service, a level of risk pertaining to theft and fraud will always exist, not only at PEP but all retailers offering the service, banks and financial services providers.
