The Financial Intelligence Agency and the Botswana Non-Bank Financial Institutions Regulatory Authority issued a joint warning about an increase in fraudulent loan applications aimed at micro-lenders, with fraudsters using counterfeit identity cards and forged income records to obtain loans unlawfully. Financial institutions were urged to strengthen their verification processes by checking information with issuing authorities and employers. The notice also reminded the public that loan fraud is a serious criminal offence under Botswana law and encouraged anyone who suspects fraud to report it to the Financial Intelligence Agency, the Police, or the affected financial institution. NBFIRA scheduled radio interviews on Duma FM for 9 September 2025 at 12:30 pm and 16 September 2025 at 12:30 pm, with both sessions to be live streamed on Duma FM’s Facebook page and NBFIRA’s Facebook page.
Botswana Non-Bank Financial Institutions Regulatory Authority 2025-09-08
Botswana Non-Bank Financial Institutions Regulatory Authority and Financial Intelligence Agency warn of rising fraudulent loan applications targeting micro-lenders
The Financial Intelligence Agency and the Botswana Non-Bank Financial Institutions Regulatory Authority warned of rising fraudulent loan applications targeting micro-lenders, involving counterfeit identity cards and forged income records. Financial institutions are urged to enhance verification processes with issuing authorities and employers. The public is reminded that loan fraud is a serious criminal offence under Botswana law.