Fraud Doesn’t Just Steal Money — It Steals Trust

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"Fraud doesn’t just steal money - it steals trust. It undermines the confidence that individuals, families, and businesses place in financial systems and institutions. " - Malebogo Hirschfeld

As the world observes International Fraud Awareness Week 2025, we are reminded that protecting our finances  and the integrity of our economy, is a shared responsibility.

This global commemoration, held every November, serves as a valuable reminder that fraud prevention is not merely a corporate or law-enforcement duty, but a collective social effort. Across Botswana, we continue to witness the rising sophistication of scams, from phishing emails and mobile-money fraud to fake investment opportunities and impersonation of legitimate institutions.

At Bank Gaborone, our commitment extends beyond providing secure banking platforms. We are equally devoted to empowering clients and communities with knowledge; because awareness remains the strongest defence against deception. Fraudsters adapt quickly, but an informed public can stay one step ahead.

The Changing Nature of Fraud

Fraud is not only a financial crime, it is a breach of trust that destabilises households and erodes public confidence. The Botswana Police Service (BPS) has issued a stern warning to the public, especially pensioners, to remain vigilant against online scams that have cost victims more than P6 million in the past ten months.

According to BPS spokesperson Assistant Commissioner Near Bagali, the rise in fraudulent activity, including fake phone calls, social-media impersonation, and email scams, this is deeply concerning. Many of these scams target elderly citizens and retirees, who are often approached by fraudsters posing as bank officials, mobile network representatives, or retail employees.

With the growing use of artificial intelligence tools and increased economic pressures, more Batswana are encountering sophisticated scam attempts than ever before. These criminals take advantage of trust, urgency, and the convenience of technology, often appearing legitimate and credible until it’s too late.

At Bank Gaborone, we have observed similar patterns, with fraudsters replicating the bank’s branding, tone, and official communication to trick unsuspecting clients into revealing personal information or transferring funds. These incidents remind us that fraud can happen to anyone,  regardless of age, background, or profession.

Common Scams Affecting Batswana

• Fake job offers or business opportunities requiring “processing” or “registration” fees.

• Mobile-money and social-media scams using the names or images of trusted individuals or companies.

• Phishing emails and messages that collect passwords, card details, or ID information.

• Investment and pyramid schemes offering “guaranteed” or unrealistic returns.

• Romance and relationship scams that exploit emotional connection and trust.

  
  

These scams are engineered to manipulate emotion and create a sense of urgency; two human instincts that criminals exploit with precision.

How to Stay Protected

1. Pause before you pay. Take time to verify the sender or source. Fraudsters rely on pressure and panic.

2. Never share personal or banking credentials. Legitimate banks will never ask for your PIN, password, or one-time code.

3. Avoid clicking on suspicious links or attachments. Access your bank directly through official apps or websites.

4. Monitor your accounts regularly and report unfamiliar transactions immediately.

5. Keep your contact details up to date so you can receive timely alerts about potential threats.

One deliberate pause can prevent a devastating loss. Vigilance is our most powerful form of protection.

A Shared Responsibility

At Bank Gaborone, we continue to strengthen our digital security, improve transaction monitoring, and educate clients about fraud prevention. But technology alone is not enough, it takes awareness and cooperation. Fraud prevention is, above all, a team effort. When individuals, institutions, and communities share information, report suspicious activity, and look out for one another, we make it harder for criminals to succeed.

A Call to Action

As we commemorate International Fraud Awareness Week 2025, I encourage all Batswana to remain alert, informed, and proactive. Discuss fraud prevention at home, at work, and in your communities. Report suspicious calls, messages, or offers immediately, especially when they target vulnerable individuals such as pensioners.

If you suspect fraudulent activity, call our contact centre at 3158681 or visit any of our twelve branches for more information.

Fraud doesn’t just steal money, it steals trust. But through awareness, education, and partnership, we can protect what matters most and build a more secure financial future for all.

By Malebogo Hirschfeld, Forensic Audit Specialist, Bank Gaborone