The Notebook Company reports that it has intercepted fraudulent payment transactions totalling around R1,5-million over the past three months.
CEO Christopher Riley says that fake companies, masquerading as reputable companies, had tried to buy stock – either by sending through phony purchase orders or fake proof of payments, and often by making use of stolen cheques looking like EFTs.
“We battled with these kinds of fraudulent activities a few years back. But now there has been a sudden surge. It is quite worrying and companies should be extremely cautious,” he says. “Due to our experiences in the past we are
pretty much on our toes when it comes to fraudulent activities. But is nonetheless worrying.”
Riley says that, while in the past the fraudulent transactions were for relatively small amounts, the latest rash of “attempts” had been much higher – ranging from R50 000 to as much as R700 000.