According to Elmi Kemp, Lead for Communications and Business Development at SAFPS, scammers are exploiting the financial stress associated with the new year to deceive unsuspecting victims.  

Loan scams are among the most prevalent, with fraudsters offering quick approval loans that require upfront payments for administrative or processing fees. Victims are lured in with promises of favourable terms, but once payments are made, the scammers vanish, often leaving behind stolen personal information.  

Bursary scams, another common tactic, prey on students and families eager to secure financial aid for education. These scams typically involve demands for upfront fees to “facilitate” applications, often by impersonating legitimate institutions. Kemp warned that bursaries without clear requirements or unsolicited offers of financial aid should raise immediate suspicion.  

Online shopping scams, particularly on marketplaces and social media, have also surged. Fraudsters present deals that seem too good to be true, using fake websites or deceptive ads to extract payments or personal information. Victims are often left without the goods they paid for.  

Kemp outlined red flags for consumers, including offers with guaranteed approval, requests for upfront payments, unrealistic prices, and suspicious email addresses or poorly written communication. She urged individuals to verify offers, research organisations, and report suspicious activities.  

The SAFPS has introduced an online scam prevention toolbox to help South Africans combat fraud. The platform allows users to scan websites for legitimacy, access educational resources, and report fraudulent activity. A dedicated scam hotline also connects victims with banks, retailers, and insurers to mitigate losses.  

“Empowering yourself with knowledge is the key to avoiding scams,” Kemp stressed, encouraging South Africans to remain vigilant and sceptical of offers that seem too good to be true.

--ChannelAfrica--