NOCMA executives detained after $403,000 fraud targeting Mozambique fuel payments

Two high-ranking executives from the National Oil Company of Malawi (NOCMA), Deputy Executive Director Miklas Reuben and Senior Operations Manager Thokozani Sesani, have been detained following the diversion of approximately $403,615 intended for a Mozambican service provider.

The fraud occurred in April after criminals intercepted electronic communications between NOCMA and Moz Handlings LDA, a company providing clearing services at the Port of Nacala. Hackers impersonated a sales assistant using a fraudulent email address and provided falsified banking details, including an adulterated confirmation statement bearing the Bank of America stamp. Based on these instructions, NOCMA processed the transfer to the fraudulent account.

NOCMA CEO Emmanuel Matapa has stated that the company will not issue a second payment to the Mozambican firm, maintaining that they fulfilled their obligation by paying the details provided at the time. The company argues that the responsibility for the compromised email and fraudulent banking instructions lies with the supplier. NOCMA is currently reviewing its digital security protocols and financial verification systems to prevent future incidents.