Almost R100,000 lost to Mpumalanga scam

The hooks for making quick money are sharp and authorities warn against taking the easy bait.

Three women were recently defrauded of close to R100,000 in Mpumalanga, prompting police to remind potential investors to do their homework.

Police say unsolicited offers, text messages from unknown numbers and encouragement to recruit others are serious red flags.

Lucrative returns on investment

Three women, aged 26 to 51, from Kamhlushwa, near Tonga, have fallen victim to a Ponzi scheme that police say is spreading across the province.

Their miserable investment began when one of the women received an offer via text message saying she could receive a large return in a short time.

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After parting with an undisclosed sum of money, the promised rewards came true and the woman became temporarily rich.

She later presented the offer to two friends who were tempted to invest large sums in hopes of achieving the same result.

“A few days later they realized the app was no longer active. They went to the bank to ask about the account and found out that it had been blocked.”

Realizing they had lost almost R100,000 to the fraudster, the three reported the matter to the police in October.

“Verify credentials”

The police asked potential victims of fraud to report any information they have, ensuring the anonymity of such materials.

“We urge our people to conduct thorough research and verify the credibility of the companies they invest in before doing something they will regret at a later stage,” warned Mpumalanga Police Commissioner Major General Zeph Mkhwanazi.

The major general added that chasing easy returns would only bring “misfortune.”

He urged people not to recruit others and to do research on companies before investing.

What information to use when reporting fraud

The South African Banking Risk Information Center (Sabric) upheld the police advice.

“Conduct thorough research into any investment opportunities to verify their legality through trusted sources such as financial regulators and official company websites,” said Sabric director of media and communications Ntshiki Maluleka. Citizen.

“This will help them make informed decisions and avoid falling victim to fraud,” he advised consumers.

When reporting fraud or fraud, Sabric recommends that you prepare a report containing the following information:

• The scammer’s company name and website, if available
• How they first contacted an investor (Online, Facebook, etc.)
• The bank account number into which the payment was made
• Transaction date(s).
• Any contact numbers or email addresses provided by the scammer
• Any available emails or phone calls to the scammer

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