FIC Issues Typology Report on Holiday Fraud Schemes

Posted 22 December 2025 Written by Acts Online
Category FICA

Brought to you by SA Accounting Academy: The Financial Intelligence Centre (FIC) has issued a 10-page typology report identifying common fraud schemes used during holiday periods to facilitate illegal fund transfers.

In terms of its mandate under the Financial Intelligence Centre Act, No. 38 of 2001, the FIC published the report titled “Crime does not take a holiday — Avoid being scammed this festive season” in November 2024. The publication follows an analysis of regulatory reports received by the Centre and aims to highlight indicators of criminality associated with holiday-related financial crimes.

The report identifies several categories of scams where fraudsters impersonate legitimate brands, travel agencies, airlines, and accommodation booking platforms. These schemes typically involve:

  • Fraudulent holiday rentals and accommodation listings on social media;
  • Fake vouchers and holiday club memberships;
  • Fraudulent timeshare offers and online ticket sales for air, bus, and rail travel; and
  • The use of pressure tactics and artificial urgency to compel victims to make immediate payments.

The FIC notes that these schemes frequently peak during festive seasons and school holidays. A primary indicator of such scams is the requirement for upfront deposits or payments to facilitate the transfer of funds, often via social media channels or direct approaches that appear “too good to be true.”

Click here to download the report Crime does not take a holiday — Avoid being scammed this festive season.

What this means for you, your business, or your clients

  • For yourself: Exercise extreme caution when engaging with travel offers on social media that require immediate upfront deposits or use high-pressure sales tactics.
  • For your business: Accountable institutions should incorporate these specific holiday-related fraud typologies into their staff awareness training to better identify and report suspicious transactions during peak travel periods.
  • For your clients: Advise clients to verify the legitimacy of travel agencies and booking platforms before making payments and to file a formal complaint with the South African Police Service (SAPS) immediately if they fall victim to such schemes.

Originally published at https://accountingacademy.co.za/news/read/fic-holiday-scams

The views expressed herein are those of the author and do not necessarily reflect those of Acts Online. Acts Online accepts no responsibility for the accuracy, completeness or fairness of the article, nor does the information contained herein constitute advice, legal or otherwise.