2001-05-21: Statement issued by the South African Reserve Bank on Bogus Donations
Last Modified Date:
2020-10-08, 08:15 PM
Media > Media Releases
The South African Reserve Bank has noted the existence of fraud schemes involving international criminal networks. Below is an example of what has been happening. Advertisements, printed on the letterhead of The Foundation for International Education (Edugrant), appeared in local newspapers offering to donate computers, printers and other valuable goods to previously disadvantaged schools. Schools responded to the adverts and received confirmations from this "Foundation". The "company" informed the schools that their request for assistance had been "favourably considered". Furthermore, the schools in question received subsequent e-mails from "Zif-Interfreight Inc, London", advising them that the goods were in their warehouse, ready for shipment PROVIDED THE SCHOOL PAYS THE FREIGHT COST INTO A BANK ACCOUNT. Schools which responded to this instruction were supposed to receive their goods within three days. It has now emerged that the 'donations' are a scam. The Reserve Bank views this in a serious light, and wishes to warn the public to stay clear of the 'donations', particularly if there is a fee involved. Anyone is a potential target.