14 July 2010 by

Warning: Commission used in bank details scam

Firms that have entered into public consent orders with the Commission are being targeted in an apparent scam aimed at diverting to fraudsters payment of agreed penalties. The scam apparently involves firms receiving a fax, ostensibly from the Competition Commission, advising that the Commission's banking account details have changed, and that all future payments due in terms of its consent agreement with the Commission, be paid into this account. The "new" banking account details are set out (an account in the name of "Competition Commission of SA"), and a copy of the consent order (a public document) is attached to the fax. Commission has confirmed that such faxes are fraudulent. Any firm making payment to the Commission directly should accordingly be sure to liaise directly with the Commission, or through attorneys, to ensure that payment is correctly remitted. 

Chris Charter, Director, Competition
Scarlate Nkiwane, Associate, Competition

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