Nyaradzo recently discovered that they had lost about $200 000 ZWL which was stolen by an unknown individual. The money was siphoned out from the company’s accounts in a case of suspected card cloning. Sadly these cases are still occuring even though most forms of cloning can be avoided by using chipped cards. A lot of banks especially local ones are still issuing magnetic strip cards that can be easily cloned.
We received a case of theft which occurred under Tshabalala area where on the 20th of December the accountant of Nyaradzo Funeral Services Donnington West who gave an ATM card to Genesis Mlala, a male adult aged 35 years residing at Pumula East who is the internal security of the company to go and purchase the company groceries for the kitchen.
Upon making a transaction at Ok Mart, the card declined due to lack of funds in the account.
Then this Genesis Mlala phoned the person advising her that there were no funds in the account and was told to return back to the office.
Some investigations were carried out by the company and an online bank statement request revealed that an unknown accused person swiped using the company ATM card on some shops in town and withdrawing ZWL$203 673 without company approval.
A report was made to the police; no arrest yet, but it was observed that the company ATM card was kept in a locked drawer in the accountant’s office.
We are investigating to establish which card was used to swipe. Was it the same card which was being kept by this accountant or a duplicate card was used? Investigations are in progress.Police statement on the incident
Protect yourself from card cloning
We have an article dedicated to preventing and protecting yourself from card-cloning here.
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