Vehicle finance group Stannic is warning motor dealerships throughout the country not to release vehicles to con artists claiming to be Stannic employees.
Vehicle finance group Stannic is warning motor dealerships throughout the country not to release vehicles to con artists claiming to be Stannic employees.
Stannic, Standard Bank’s asset finance division, said the warning followed several incidents in which men claiming to be bank employees approached car dealers. The con artists used forged Stannic documentation to try to get the dealers to release vehicles.
The division warned that the thieves tended to target smaller towns and in most cases focussed on luxury vehicles. Larger dealerships were generally aware of the official documentation and authorisation procedure required before vehicles could be released, warned the company.
Stannic said the con men had managed to defraud a Newcastle dealership of seven trucks, valued at nearly R6 million and police were investigating the matter.
The thieves also tried to dupe dealers in Delmas and in Vanderbijlpark. But the dealers became suspicious and refused to release the vehicles, most of which were 4X4 and luxury vehicles.
Dealers should report suspicious activities to the police or contact Stannic Customer Services on 0860 123 002.
