Fake SA bank accounts trap foreign nationals in cross-border scam
Fraudsters are deceiving Zimbabweans and Mozambicans by offering fake FNB bank accounts, promising them access to financial services that don’t exist.
For many Zimbabweans and Mozambicans, opening a South African bank account means more than completing paperwork.
It provides smoother cross-border trade, easier remittances, and access to services often unavailable in their home countries.
However, what once seemed like a golden opportunity has turned into a trap, as fraudsters exploit people’s hopes with a new scam.
How the Scam Plays Out
The scheme is simple yet devastating. Criminals posing as FNB representatives offer South African business accounts to non-residents.
They present fake or stolen documents to make the setup appear legitimate, persuading people to pay for accounts that don’t actually exist.
The scam succeeds because it exploits a real need. Many small traders in Harare, Bulawayo, Maputo, and Beira rely on South African accounts to pay suppliers or receive payments from clients.
Lacking that access, they often turn to costly and risky alternatives.
FNB responds to the scam
FNB has distanced itself from these operations. They stress that the bank does not run branches in Zimbabwe and that anyone promising to sell accounts outside official channels is a scammer.
“We are most concerned about the misuse of our brand,” said Roshan Jelal, Head of Fraud at FNB Commercial Chief Risk Office.
He urges the public to remain vigilant and report any suspicious activity immediately.