Conveyancing law firms targeted in new multimillion-rand cyber scam
Johannesburg - A new multimillion-rand cyber fraud scam allegedly headed by Nigerians and targeting attorneys dealing with big-money property transactions has been exposed in a graft case in the Joburg Commercial Crime Court.
Olutunji Abdul, a Nigerian, and Siphosihle Sithole, a South African, are standing trial in a R7.8million matter in what investigators termed the new “business email compromise” (BEC) fraud.
BEC fraud apparently uses spyware or viruses to allegedly clone email addresses in order to dupe unsuspecting traders into paying invoices into “fraudulently opened” bank accounts.
Last week in the Joburg Commercial Crime Court sitting in Palmridge, Captain William Mopedi testified that DM 5, a conveyancing law firm, had its email spoofed during a transaction it was handling on behalf of Polokwane-based Amohelang Holdings, which primarily provides student accommodation.
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