Authorities are urging Mpumalanga residents to be cautious of quick-money schemes after three women from Kamhlushwa, near Tonga, were scammed out of nearly R100,000. Police believe the suspected pyramid scheme is gaining traction in the province.
The scam began when one of the victims received a text offering a lucrative investment opportunity with the promise of high returns in a short time. She invested and initially received the promised payout, which encouraged her to share the opportunity with two friends, who also invested significant sums.
However, the trio soon discovered that the application they used was no longer functional. A visit to the bank revealed that the account associated with the scheme had been blocked, leaving the women out of pocket. They reported the scam to the police in October.
Mpumalanga police commissioner Major General Zeph Mkhwanazi warned against the allure of easy returns, stating, “Chasing quick money will only bring calamity.” He advised potential investors to thoroughly research companies before investing and not to recruit others into unverified schemes.
The South African Banking Risk Information Centre (Sabric) echoed the police’s advice, urging consumers to verify investment opportunities through trusted sources. Sabric also provided guidelines on reporting scams, including documenting details such as the company name, contact information, transaction dates, and communication with the fraudsters.
Authorities are calling on victims to come forward with any information to help curb the spread of such scams.
