- Aug 4, 2008
There's apparently a practice where scammers borrow legit accounts to use as money laundering avenues when they can't open the accounts themselves. But there are issues with Capitec too as the fact that all these monies appear to be laundered through them should have them setting up triggers when large amounts are transferred. Even if the scammers transfer the funds to multiple accounts, the source will be the same and they ought to be able to flag something like that. And then Absa appear to have non-existent audit trail systems, because you can bet the marks are identified by bank staff who then pass the info onto syndicates who then social engineer access info out of the mark before proceeding with the sim swaps and pillaging.Cant they track the Capitec user it was transferred to?