Malawi's NOCMA wired US$403,605 to fraudsters after forged emails changed a supplier's bank details. Two senior officials have been arrested.
MALAWI · DOING BUSINESS
Key Facts
—The loss: Malawi’s state oil company paid US$403,605, about K700 million, to an account controlled by fraudsters.
—How: Forged emails posed as a fuel supplier and announced new bank details at a major US bank.
—Who was impersonated: Mozhandling Limited, the Mozambican firm that handles Malawi’s fuel shipments at the port of Nacala.
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