Deposit and refund fraud

Deposit fraud is when criminals produce false chits, or false proof of payment of some sort, to trick you into thinking that you have been paid for goods or services. Usually the fraudster will ask you to hand over goods or provide services based on this falsified proof. Be cautious and don’t be fooled. Always wait for the funds in question to be cleared and deposited into your account before concluding the business transaction.


Refund fraud involves the same tactics used in deposit fraud, where you are provided with false proof of refund, tricking you into thinking that you have been refunded. You will be pressured into acting quickly based on the false proof of payment. Fraudsters will pretend to call from a genuine company and they will sound legitimate and convincing.

Tips to avoid being the victim of a deposit or refund fraud:

  • Never act on providing goods and services before funds are cleared and this is reflected in your account. Proof of payment at face value is not good enough. Cheques take up to four working days to clear, and be extra vigilant as cheques can be easily forged.
  • Always use BNF Internet Banking (Bill Payments Section), to pay a verified beneficiary. We have the most popular companies in Malta listed as verified beneficiaries for you to make safe and fast payments to.
  • Fraudsters often make mistakes so look out for any variations and out-of-place text and graphics that denote a falsified document. 

The content in this article is provided solely to create customer awareness. It does not constitute legal advice.

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