Protecting Citizens from Financial Deception
The Central Bank of Eswatini (CBE) has issued a stern warning to the public about a fraudulent coin purchase scheme currently circulating across the Kingdom. Unscrupulous individuals are reportedly posing as Bank employees, claiming to buy old coins for large sums of money-but only after victims pay so‑called “clearance” or “release” fees.
According to the Bank’s official statement, these claims are false and unlawful. Under Section 26 of the Central Bank of Swaziland Order (1974), the bank only exchanges notes and coins of equivalent value and does not purchase old coins for extraordinary sums.
How the Scam Works
Fraudsters approach members of the public, promising lucrative payments for old coins. Victims are then asked to pay upfront fees before the supposed transaction can be “processed.” Once the money is paid, the scammers disappear-leaving victims defrauded and disillusioned.
The Central Bank’s Clarification
• No authorized payments: No employee or agent of the Central Bank is permitted to request any form of payment related to coin or note exchanges.
• Public vigilance: Citizens are urged not to transfer money, share banking details, or engage with anyone making such claims.
• Report immediately: Anyone who encounters these individuals or has fallen victim should report the matter to the nearest police station.
A Call for Financial Awareness
This scam serves as a reminder of the importance of financial literacy and vigilance. Fraudsters often exploit trust and desperation, using official‑sounding language to deceive. The Central Bank’s proactive stance reinforces its commitment to protecting the public and safeguarding confidence in Eswatini’s financial system.
