Tag - scam

How to avoid buying into hype

When looking at investment opportunities, it isn’t always that easy to separate out the sizzle from the steak. What do Bernie Madoff, Barry Tannenbaum and Sharemax have in common? They started as credible organisations run by known people – people who also knew how to create allure and marketing buzz – SIZZZLE. And they all had an...

Hundreds of South Africans fall victim to loan scam

It was only when Patricia received a call from Wonga’s head of communications that she realised she had been the unwitting victim of a phising scam that has so far conned over 200 people into parting with their money. Two weeks ago Patricia received an SMS from – what she believed to be – short-term lending company Wonga.com. In response to...

It’s annual tax phishing season

With tax filing season upon us, the annual tax-related cyber-fraud feeding frenzy has begun, warns Jonas Thulin, Security Consultant at Fortinet. “The Receiver of Revenue, financial institutions and security firms have been issuing the same warnings every tax season for years. Amazingly, nothing has changed and people are still being...

How a boiler room scam works

If an overseas broker calls you out of the blue to sell you shares, you don’t need to ask – it is a scam. Two months ago Ross received a call from a trader supposedly working for a Shanghai-based stockbroking firm. Ross was told that he had been identified as a potential blue chip client and that the firm, Foerster Consulting, wanted to...