Jeff van Rooyen, the chief executive of the Financial Services Board (FSB), almost became the victim of cheque fraud this week.
Van Rooyen, who was in Cape Town at the time of the incident, received a call from his personal banker in Johannesburg for authorisation to cash a cash cheque to the value of R9 800.
"Nedbank must be commended for their vigilance in preventing this fraudulent transaction," Van Rooyen said.
"The impostor fled before he could be apprehended and left a fictitious ID behind. My cheque book and identity document were cloned, which points to sophisticated fraud," Van Rooyen says.
He still has his cheque book and ID book in his possession.
Van Rooyen has reported the matter to the police and Nedbank is also conducting an investigation.
"Once again, this illustrates that we must be vigilant, regularly review our bank statements and be alert for suspicious transactions," he added.
Leanne Daniels, Van Rooyen's personal banker at Nedbank, says it is relatively easy for fraudsters to obtain falsified identity books and to replicate cheques. Fraudulent identity books can be bought for R100 on the street.