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

The information and material published on this website is provided for general purposes only and does not constitute legal advice.

We make every effort to ensure that the content is updated regularly and to offer the most current and accurate information. Please consult one of our lawyers on any specific legal problem or matter.

We accept no responsibility for any loss or damage, whether direct or consequential, which may arise from reliance on the information contained in these pages.

Please refer to the full terms and conditions on the website.

Copyright © 2020 Cliffe Dekker Hofmeyr. All rights reserved. For permission to reproduce an article or publication, please contact us cliffedekkerhofmeyr@cdhlegal.com