THE Durban North SAPS has warned residents to be cautious when purchasing things online or depositing large sums of money into people’s accounts without receiving items.

In the last few years residents have lost thousands of rands in cases of online fraud, especially vishing scams.

In particular last year residents were targeted by suspects posing as bank officials who alleged there’s an issue with your account regarding fraudulent activity and they need your banking details and Pin to rectify the issue.

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Spokesperson for the police station, Sergeant Nonhlanhla Shozi explained the latest case of fraud opened at the station was an investment scam.

“The victim followed a link and the suspects they were dealing with encouraged them to invest in this scheme. They kept asking for more and more until the victim had deposited R400 000 with no returns or benefits. When the victim realised they were scammed they opened a case with the station,” Shozi said.

She added that investment scams promise large returns which don’t materialise.

In November last year, the Financial Sector Conduct Authority (FSCA) also issued a warning on investment scams, giving some advice.

They say there are tell-tale danger signs which include unrealistic or exaggerated returns; requirements to pay for services up front; requirements to pay more money, and claims that you must act and pay urgently i.e. creating a sense of urgency.

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