Rise in KYC fraud raises Palapye police concerns

Tuesday, June 09, 2026 | 480 Views |

The Palapye police have expressed concern over the increasing number of fraud cases in which unsuspecting members of the public, particularly pensioners, are being swindled out of large sums of money by fraudsters posing as bank employees offering assistance with Know Your Customer (KYC) updates.

The police suspect criminals may have access to information on their targets' bank balances, or such scams may involve insider information from financial institutions, as most of the victims appear to have substantial amounts of money in their accounts.

In the latest incident, the Palapye Police Station commander, Superintendent Koziba Phuluweni, revealed that a 69-year-old man from Palapye lost more than P100,000 after being deceived by fraudsters masquerading as bank officials.

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