CREDIT CARD & PAYMENT SCAMS
ARTICLES
SAFPS WARNS AGAINST ADVANCE FEE SCAM
SAFPS would like to warn consumers of an Advanced Fee Scam where the perpetrator is falsely presenting themselves as a representative of the SAFPS. READ MORE
'I closed my account, how did fraudster get card in my name and spend 1000s?'
It's a nightmare when a retail client suddenly discovers an imposter is fraudulently spending money using their store card and account. Compounding the stress is the run-around they're given while trying to clear their name, says Wendy Knowler. The consumer journalist says she knows that if she takes up their case with the particular company, it will get sorted out almost straight away. She followed up on the case of an Edgars client recently... READ MORE
FSCA warns the public against an impersonator of Menblack (Pty) Ltd
The Financial Sector Conduct Authority (FSCA) warns the public to be cautious and vigilant when receiving correspondence purporting to come from Menblack (Pty) Ltd. In the suspicious correspondence, the public are offered an investment opportunity, that promises... READ MORE
FSCA warns the public against Binary Trade
The Financial Sector Conduct Authority (FSCA) cautions the public against doing any financial services business with Binary Trade, which is not authorised to give any financial advice or render any intermediary services in terms of the Financial Advisory ... READ MORE
FSCA warns the public against FX-Quote247
The Financial Sector Conduct Authority (FSCA) would like to warn the public to act with caution when dealing with an entity using the name FX-Quote247. The entity... READ MORE
FSCA warns the public against Kuveyt Yatirim
The Financial Sector Conduct Authority (FSCA) would like to warn the public to act with caution when dealing with an online trading platform which is using the name Kuveyt Yatirim. Kuveyt Yatirim is not authorised in terms of the Financial Advisory and... READ MORE
Public warning against Prestmarine/ Marine and Air Freight Cargo Insurance
The Financial Sector Conduct Authority (FSCA) warns the public to act with caution when dealing with an entity using the name Prestmarine/ Marine and Air Freight Cargo Insurance. The entity is not authorised to render financial advisory and intermediary services... READ MORE
FSCA warns the public against Secure FX Trading
The Financial Sector Conduct Authority (FSCA) warns the public to be cautious and vigilant when receiving correspondence from Secure FX Trading (Secure FX) soliciting investments. Secure FX solicits investment in Bitcoin and in turn... READ MORE
CREDIT CARD & PAYMENT SCAMS TYPES
Where patients and service providers collude to submit fraudulent claims for services or medication to medical schemes, that were not provided and the claim payment is then shared between the parties.
“Ponzi” schemes promise high financial returns or dividends not available through traditional investments. Instead of investing the funds of victims, the fraudster pays “dividends” to initial investors using the funds of subsequent investors. In pyramid schemes, the victims are required to recruit further “investors” through the payment of recruitment commissions.