Botswana Police Service says pensioners are increasingly becoming prime targets for sophisticated cybercriminals and fraud syndicates exploiting low digital literacy, fear and trust to steal retirement savings.
Speaking at the NMG Retirement Wellness Summit in Gaborone, Assistant Commissioner of Police and Deputy CID Administration at the Botswana Police Service warned that fraudsters are shifting away from violent crime and turning to online scams because they are easier to execute and harder to trace.
“People have decided they no longer want to do robbery because they may lose their lives,” he said. “Now they can simply sit somewhere and commit fraud.”
The officer said retirees have become especially vulnerable because many are unfamiliar with digital banking systems, cryptocurrency, online investment platforms and evolving cybercrime tactics.
“These are people who have accumulated wealth over many years,” he said. “But many do not understand digital assets, online transactions or cyber risks.”
He revealed that criminals are increasingly impersonating banks, mobile money operators, government officials and investment agents to gain access to victims’ accounts and retirement funds.
Among the most common scams identified were SIM swap fraud, phishing attacks, fake investment schemes and criminals posing as bank officials requesting one-time passwords (OTPs) under the guise of updating Know Your Customer (KYC) details.
“Never share any details sent to your phone,” he warned delegates. “The moment you give away your OTP, criminals are already transacting in your account.”
The police official said many victims are lured into fraudulent investment schemes by promises of unrealistic returns.
“You are promised P10,000 becoming P50,000 and you do not stop to ask where that money is coming from,” he said.
According to the officer, fraud investigations have become increasingly complex because syndicates now operate across borders, conceal identities online and use international financial networks.
Some suspects linked to fraud investigations have fled Botswana, forcing authorities to seek assistance through international policing bodies including INTERPOL.
“You can run, but you cannot hide,” he said, warning that fugitives are placed on international watchlists and can be intercepted abroad.
The Botswana Police Service has since established a special task team dedicated to pension-related fraud and cybercrime investigations.
Authorities say collaboration between banks, pension fund administrators, regulators and law enforcement has already helped reduce losses in some fraud categories through public awareness campaigns and improved detection systems.
The officer credited stakeholder engagement and media campaigns on radio, television and social media for helping pensioners identify red flags before falling victim to scams.
However, he warned that cyber-enabled financial crime remains a growing threat as criminals become more technologically sophisticated.
The officer said Botswana’s legal framework has also evolved to strengthen the fight against fraud and corruption, citing the Proceeds and Instruments of Crime Act, Electronic Evidence Act and tougher penalties under the Penal Code.
He said law enforcement agencies are increasingly using asset forfeiture laws to seize properties and proceeds linked to criminal activity.
“Sometimes you see businesses closing down or buildings being restrained,” he said. “That is because proceeds of crime are being recovered.”
The summit also heard that organisations themselves remain vulnerable due to weak internal controls, poor cybersecurity practices and insider collusion.
The police official urged companies to strengthen audits, improve fraud detection systems and monitor unusual employee lifestyles that may signal corruption or internal theft.
“We are dealing with organised groups,” he said. “There are people everywhere in the chain.”
He further encouraged pensioners and workers to seek advice from trusted financial advisors before investing money and to avoid making rushed financial decisions.
“Stay informed,” he said. “Fraud trends are evolving every day.”
