Fraudulent use of W8-BEN forms

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For residents of South Africa

A W8-BEN form is a US Treasury form which can be used, depending on your circumstances, to ensure your investments are exempt from US taxation.

But beware! Fraudsters are issuing these forms in an attempt to extract personal information from their victims, which they can then use to perpetrate identity fraud. They send out a blank W8-BEN form and ask for this to be filled in and returned to a UK fax number that they provide.

The criminals have been targeting residents of South Africa in particular.

If you receive an instruction seemingly from Scottish Widows Bank, asking you to complete and return a W8-BEN form, along with a copy of your passport, please contact Scottish Widows Bank immediately. DON’T complete and return the W8-BEN form, or you may leave yourself at risk of identity fraud.

For further information on how to protect yourself from identity fraud, go to the Home Office website www.identitytheft.org.uk.