New Form of Fraud in Serbia

Enforced Collection of Claims department of National Bank of Serbia has informed us of a new form of fraud, which operates as follows:

An account is created in a bank where the company does not possess an account,  using forged ID and other documents. Afterwards, in the same bank, a bill of exchange is registered and activated soon afterwards. The debtor, the victim of the fraud, becomes aware of the false bill of exchange only after the funds have already been removed from his account. Most at this point try to demand the National Bank of Serbia to cease the process of enforced collection, or demand the return of the funds.

However, National Bank of Serbia has so far replied that without a relevant court order, it has no grounds to act in this manner.

In order to protect your companies, we suggest that at least once per week check the Register of Accounts and Register of Bills of Exchange or Mandate in the National Bank of Serbia.

Using the website of the National Bank of Serbia, www.nbs.rs, choosing the Enforced Collection link in the menu on the left, you will find 6 items, among which are Search of the Register of Bills of Exchange or Mandate and Search of the Single Register of Accounts. These options enable you to receive information on all bank accounts and registered bills of exchange using the company’s ID number.

If you discover that you have a registered account you haven’t opened yourself or a bill or exchange you haven’t granted, react urgently in order not to become a victim of the said fraud.

BSN considers that the National Bank of Serbia has to urgently change its procedures in order to make this form of fraud impossible, or at least prevent the negative consequences for the companies. It is absurd for an institution in a legal state to be aware of a fraud and do nothing to stop it. The purpose of the system must be to protect the law-abiding persons, and not to be an accomplice in a criminal activity through inaction.