Scammers pose as bank officials in R21.5m heist
An urgent preservation order blocked the proceeds from being moved while investigators pursue a criminal case and forfeiture proceedings.
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AFU restrains R43.9m in assets linked to alleged investment scam
The NPA says the order follows arrests in a fraud investigation targeting victims across multiple jurisdictions.
AFU secures R11m linked to Foschini impersonation scam
The National Prosecuting Authority says the forfeiture follows an impersonation scheme that led to payments exceeding R22m.
Asset forfeiture and unlawful money schemes
Fraud victims have two distinct remedies: criminal-law-driven asset forfeiture via the Prevention of Organised Crime Act and civil liquidation proceedings under the Companies Act.
Victims of ‘investment’ scam to receive share of recovered funds
Victims of the Ant Ranch scheme will receive a share of the R475 000 held in terms of a preservation order. However, the money may not go far in reimbursing their losses.
FSCA refutes claim of Banxso licence reinstatement amid ongoing investigation
The liquidation application against Banxso claims that the number of clients deceived by the deepfake adverts is far greater than previously reported.
