This week is Fraud Awareness Week and the Southern African Fraud Prevention Service is warning people about the risk of fraud on social media.
Van Schalkwyk says the most common tactic used by fraudsters is social engineering. Most social media users are aware of targeted advertising, for which advertisements for products they search for online are packed and presented to them on their timeline. But not all of these links are genuine. From there, the fraudsters can easily assume the consumer’s identity and use this identity to commit fraud.
Earlier this year, the Consumer Goods and Services Ombud annual report highlighted the extent to which consumers are defrauded by online operators.
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