06/02/2025
" DONT FALL VICTIM,HOW TO AVOID SCAMS IN 2025"
As the year progresses, many South Africans find themselves facing unexpected financial challenges, whether it’s post-holiday debt, back-to-school expenses, or the mid-year slump when budgets feel tighter. During these times, scammers are particularly active, ready to exploit those seeking quick and easy ways to make ends meet.
From online investment scams to fake job offers, fraudsters continually evolve their tactics to target vulnerable consumers. It’s crucial to stay informed and vigilant about how and why these scammers are deceiving South Africans out of their hard-earned money.
"The psychology behind scamming"
Dr. Khosi Jiyane, a clinical psychologist, explains that “poverty and necessity are key drivers behind why many people scam. Then there are those who derive a psychological or emotional ‘high’ from cheating others. This drives cybercriminals to find more sophisticated ways to scam people, especially during periods of financial stress.”
According to a recent Kaspersky cyber threats landscape report, phishing attacks using social engineering tactics rose by 29% in 2024. These attacks often appear as fake job offers, where fraudsters create listings promising high-paying roles with minimal effort. Victims are asked to pay upfront fees for "training materials" or "administrative costs," only to be left empty-handed.
Scammers also lure individuals into fake cryptocurrency or stock market schemes, promising quick returns through online investment scams. Others pose as legitimate lenders offering easy-access loans to those struggling financially, even targeting people with bad credit profiles. Victims often pay “processing fees” upfront and receive nothing in return.
"The role of technology in scams"
The digital age has made the fraud landscape even more challenging. Scammers are leveraging advanced technology to deceive even the most cautious individuals. AI-driven tools like voice cloning and spear-phishing emails are being used to manipulate victims into revealing sensitive information or making financial transactions.
However, while scammers are becoming more sophisticated, consumers can take proactive steps to protect themselves. Simple habits, like reusing passwords, clicking on unknown links, or sharing personal information without verifying sources, significantly increase susceptibility to scams.
"How to protect yourself"
Momentum Insure Chief Marketing Officer, Shweshwe Tlhapane, advises consumers to adopt a cautious and proactive approach to avoid falling victim to scams. “Be sceptical,” says Tlhapane. “If an opportunity or offer seems too good to be true, it probably is. Consumers must verify the legitimacy of job listings, investment opportunities, and lenders before taking any kind of action.”
Other ways to protect yourself from scammers include strengthening your cyber hygiene:
Change passwords regularly.
Use strong, unique passwords.
Enable two-factor authentication to secure your accounts.
It’s also important to avoid making desperate decisions, adds Tlhapane. “Financial stress can lead to impulsive actions, which is why it’s crucial to take time to critically evaluate opportunities before committing to anything.”
"Awareness is your best defence"
“The best defence against scams is awareness, and this is why Momentum Insure partnered with experts to dive deeper into how scams work, arming consumers with the right knowledge,” says Tlhapane. “By understanding how these scammers operate and being mindful of our actions, we can outsmart them and protect what matters most.”
Momentum Insure’s Circle of Safety series offers practical insights and tools to help consumers navigate these challenges and stay financially secure. Watch Seasons 1 and 2 on YouTube for more tips on staying safe .
BY:Soweto-Life News.com
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