A worrying trend has emerged where scammers are targeting Econet users with fake messages promising exclusive bundles. These fraudulent messages, filled with poor grammar, random emojis, and odd formatting, claim users have been selected for special offers due to their loyalty. The scam involves tricking unsuspecting people into paying for these fake bundles, with no actual data packages delivered.

Why the Scam Sounds Plausible

There are two recent developments that scammers are leveraging to make their fake messages seem credible:

Econet’s Trial of Unlimited Bundles: Econet is currently testing an Unlimited Data Bundle. They have sent out invitation messages via SMS to select subscribers. The official offer came as a surprise to many, with some customers being offered the bundle at prices ranging from US$15 to as high as US$75, with no official explanation for the varying prices. The legitimate bundle trial generated a buzz, and many customers are now eagerly awaiting the invitations, making them more susceptible to fake offers. You can read more about this legitimate offer here.
Popularity of Econet ZiG Wi-Fi Bundles: Econet’s ZiG Wi-Fi bundles have recently gained popularity due to their affordability when using the official exchange rate. With the Zimbabwe Gold currency (ZWG) rapidly losing value on the black market, these bundles have become an attractive option for many, especially as they are far cheaper than buying bundles in USD. Scammers have capitalised on the confusion surrounding these rates, using promises of cheap bundles to lure unsuspecting victims.

Bundle	Data	ZiG Amount	USD Amount Official	USD Amount(Using Black Market Rates)
ZWG 122	5GB	$122 ZWG	US$8.71	US$4.69
ZWG 242	11GB	$242 ZWG	US$17.29	US$9.31
ZWG 380	18GB	$380 ZWG	US$27.14	US$14.62
ZWG 590	28.75 GB	$590 ZWG	US$42.14	US$22.69
ZWG1135	55GB	$1 135 ZWG	US$81.07	US$43.65

As you can see from the table, buying ZiG Private Wifi bundles results in massive savings if one is offered the bundles at street rates.

Fake Messages on the Rise

The scam messages often claim users will receive free data or exclusive offers once they “register” using their EcoCash or bank details. These messages sometimes impersonate Econet representatives and claim to be offering bundles on platforms like Facebook, using jargon that sounds convincing but makes little sense upon closer inspection.

A recent example of a fake message circulated online is included in Econet’s advisory (see the image above). The scammer, posing as “SOFI MKANDLA from ECONET,” promises an 8GB Wi-Fi bundle for free, but only after asking for personal information and registration on a dubious platform. Econet responded swiftly by advising customers to be wary of these messages, urging them to only verify offers from official Econet channels. In a statement posted on their official Twitter account, Econet warned against sharing personal information with unverified sources and urged users to report any suspicious messages (screenshot attached).

How Scammers Profit

The scammers may be taking advantage of Zimbabwe’s volatile exchange rate. With the street exchange rate as high as ZW$26 for US$1, many unscrupulous individuals or illegal currency traders might be using these bundle schemes to offload their local currency at inflated prices.

For instance, a scammer could offer to sell a bundle worth ZW$590 (the equivalent of 28.75GB of data) but demand payment in US dollars at a rate favourable to them. The unsuspecting buyer, enticed by the promise of cheap data, sends their money, and may or may not receive their bundle.

Frequently Asked Questions

1. How can I tell if an Econet bundle offer is fake?
Check the source of the message. Only trust offers from official Econet channels like their website, SMS, or the MyEconet app. Be wary of poorly formatted messages or those asking for personal information.

2. What should I do if I receive a suspicious message?
Report it to Econet immediately and do not share your EcoCash or bank details. Scammers often use urgency to trick victims into acting quickly, so take your time and verify the offer.

3. How are scammers taking advantage of exchange rates?
Some scammers exploit the discrepancy between the official exchange rate and the black market rate, offering fake bundles at prices that seem too good to be true. They may then take your payment and disappear, leaving you without the promised data.

4. What are Econet’s current bundle offers?
To avoid falling for scams, always check Econet’s official offers, which include packages like the ZiG Private Wi-Fi bundles. For a full breakdown of Econet’s legitimate offers, visit their website or use the MyEconet app.