Mbabane – The Central Bank of Eswatini has issued a public warning over a fraudulent coin purchase scheme in which individuals are impersonating bank employees and soliciting money from members of the public.
The bank says the suspects, identified as Buyisile (contact 7830 9379) and Sihlongonyane (contact 7669 8843), have been approaching people with claims that they are purchasing old coins for large sums of money. Victims are then allegedly asked to pay “clearance fees” or “release fees” before any transaction can be processed.
In its statement, the bank clarified that the claims are false and fraudulent, noting that it does not purchase old coins for extraordinary amounts of money. It added that under the Central Bank of Eswatini legal framework, the institution only exchanges notes and coins of equivalent value.
The bank said no employee or authorised representative is permitted to request any form of payment from the public in relation to currency exchange, stating that anyone demanding such fees is acting without authority.
Members of the public have been cautioned against transferring money, sharing banking details, or engaging with individuals making such claims. They are also advised to report such incidents to the nearest police station.
The Central Bank of Eswatini said the statement is reaffirming its commitment to safeguarding the integrity of the financial system, while also signaling the need for vigilance as fraudsters continue to target unsuspecting individuals.
It added that the message is intended to strengthen public awareness and awareness structures across communities, with the aim of preventing financial losses linked to scams that are becoming more sophisticated.
The warning also serves as a reminder that individuals posing as bank officials are not authorised, marking a clear distinction between legitimate banking services and criminal activity.
Authorities say the alert is a major milestone in ongoing efforts to curb financial fraud in the country, urging the public to remain cautious and verify any suspicious transactions directly with the bank.
The Central Bank reiterated that protecting consumers remains a priority as it continues to monitor and respond to emerging fraudulent schemes targeting the public.
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