TRENDS IN CYBERCRIME TO WATCH OUT FOR

FORENSIC investigation company IRS said there was a marked increase in fraud last year, particularly involving cybercrime.

It has investigated many cases and shared fraud indicators to watch for:

◆ Many fraudsters are using the current cryptocurrency craze to dupe people into investing in non-existent schemes.

◆ Another type of fraud doing the rounds is fraudsters convincing victims to invest in non-existent forex trading

platforms.

◆ Ask anyone giving financial advice if they are FAIS (Financial Advisory and Intermediary Services) Act compliant. Ask for their FSP registration number and check with the Financial Sector Conduct Authority.

◆ Check that any stokvel you plan to invest with is registered with the National Stokvel Association of SA.

◆ Fraudsters targeting individuals are more prolific now than ever. Be wary of “get rich quick” schemes.

“Fraudsters are sociopaths with no conscience. They will not hesitate to smooth-talk you into investing life savings or pension money.

Remember that we call fraudsters ‘con artists’ because they are confident and convincing.

“If you suspect you or a friend or family member is a victim of a scam, report it,” said the director of IRS forensic investigations, Chad Thomas. Go to www.irsa.co.za/contact. | Shanice Naidoo