Financial crimes investigations specialist share their fraud/cybercrime tips with the public.
The police, banks and online stores have pleaded with the public to be cautious and alert when engaging in online shopping. Police continuously reminded people not to be taken advantage of and scammed as they experienced an increase in reported cases directed towards online fraud. IRS Forensic Investigations, who specialises in financial crimes of all types covering all industries, have also noticed the sharp increase in such crimes.
Chad Thomas, chief forensic investigator of IRS, said “During 2018, there was a marked increase in fraud, especially involving cybercrime. IRS Forensic Investigators has investigated multiple cases and has advice so that you don’t become a crime statistic.”
The following tips are a range of things to beware of and avoid, as these are the tactics used by these fraudsters:
- When dealing with individuals or companies that focus on financial advice and services, ensure that they are Financial Advisory and Intermediary Services (FAIS) compliant. Ask for their Financial Services Provider (FSP) registration number and check it with the Financial Sector Conduct Authority (FSCA).
- Many fraudsters are currently using the current cryptocurrency, such as Bitcoin, craze to dupe people into investing into non-existent schemes.
- Convincing victims to invest in non-existent Forex trading platforms is another scam that fraudsters are turning to.
- Check that any stokvel you are planning to invest with is registered with the National Stokvel Association of South Africa.
- Be wary of ‘get rich quick’ schemes as fraudsters targeting individuals for their hard earned money are more prolific now than ever.
- Fraudsters will not hesitate to smooth talk you into ‘investing’ your life savings/pension money.
If you suspect you, a friend or family member is a victim of a scam or if you want to report fraud, contact IRS Forensic Investigations on their website www.irsa.co.za/contact.
