Fraudsters eagerly await the Tax Season, with the simple intent to defraud consumers, warns Standard Bank.
“Fraudsters deploy bait communication via text, email, WhatsApp or telephone call. The communication may indicate that you have a tax rebate, tax penalty or that you are being investigated for contravening tax laws,” explains Standard Bank’s Head of Fraud Risk Management, Adv. Athaly Khan.
These tactics aim to steal banking details, siphon funds, or trick consumers into transferring money to fraudulent accounts. Below are common scams to watch for:
Extortion and Secure Account Scams
Fraudsters pose as investigators, alleging issues with your tax return that could lead to prosecution. They provide fake documents to support their claims. “Intimidation and manipulation tactics may be used to instil fear and panic so that you can follow their instructions,” Khan explains.
Convinced customers are asked to pay to make the issue vanish or transfer funds to a fraudulent account to ‘secure funds due to SARS’ during a fake investigation, often claiming ties to banks or authorities.
Change of Banking Details
Fraudsters send fake messages with banking details, claiming you owe SARS money. The accounts belong to scammers, not SARS. Some offer discounts to rush payments without verification.
Phishing, Smishing, Quishing, and Card Not Present (CNP) Scams
Fraudulent messages with links, attachments, or QR codes may contain malware to access your device or banking profile. Others prompt you to enter card details for SARS payments, compromising your information.
Key Advice
- Always pause and consult trusted contacts before paying unknown individuals.
- Banks and authorities can secure funds directly; they won’t ask you to transfer money to ‘safe’ accounts.
- Always verify banking details with the source.
- Use Account Verification Services (AVS).
- Be wary of links, attachments, or QR codes.
“Nothing is ever what it seems, SARS spoofing will be on the rise, and we need all our customers to have their guards up,” concludes Khan.
Compiled by Warren Hawkins
