Telkom has warned that fraudsters are targeting its customers using a deposit refund scam.

Criminals deposit a stolen or counterfeit cheque into customers’ accounts, and then on a false Telkom letterhead inform them that the company has erroneously deposited the cheque as reimbursement for overpayment on their telephone account.

“This letter is usually delivered to the customer by hand or via e-mail,” says Thokozani Mvelase, Telkom’s group executive for enterprise risk management, in a media statement.

Mvelase says customers are then requested to transfer the amount into a bank account that is purported to be under Telkom’s name.

“This transaction usually happens before the cheque is cleared by the bank,” he says. “As such, the customer’s account would be fraudulently debited with the cheque amount while the initial cheque deposit is declined by the bank.

“The fraudsters would, in the interim, have withdrawn the cash from the ‘Telkom’ account, thus leaving the customer out of pocket for the value of the initial cheque deposit amount.”

New research shows that this type of deposit refund scam is on the rise in South Africa. Seven percent of online banking users in South Africa have fallen prey to this scam at some point, up from 4% a year ago, according the results of a recent survey by Columinate.

If Telkom customers suspect criminals are attempting to perpetrate this fraud against them, they should phone the nearest customer service branch and confirm whether there was indeed a cheque issued in lieu of an overpayment. They should also ask the person delivering the letter, if it is delivered in person, to show a Telkom ID card. If one is shown, customers should record the card details.

They should also attempt to record the type, make and registration number of the vehicle that the person delivering the letter arrives in and inform Telkom’s fraud hotline on 0800 124 000.