Hello dear: Beware these investment scams in South Africa

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The rising cost of living continues to tighten its grip on the economy, giving scammers, fraudsters and hustlers the green light to prey on those desperate enough (and potentially unaware of the dangers) to choose an easy way out of the financial hole they have fallen into.

Rappard said the popularity of the recent Tinder Swindler documentary on Netflix should add the “Romance Scams” to the top of one’s mental list.

To protect yourself from fraudsters, Rappard provides some tell-tale signs to watch out for when it comes to potential scams: Unexpected emails from unknown or even legitimate-looking sources, prompting you to click on a link or attachment.Always check that the URL provided matches the actual domain. The investment company should be licensed by the Financial Services Conduct Authority and should display its FSP number on all marketing materialAny investment transaction taking place on WhatsApp should be treated as suspect.

 

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