Financial Protection

scroll for more

Learn to recognise a scam when you see one

As much as we would like to trust in the goodness of human nature, we must admit that there are some criminals out there—people who make it their mission to take your money from you.
Unfortunately, in today’s digital age, they have even more tools to do just that.

But if you know what to look out for, you can beat them at their own game. Because when you write your own financial story, you are the smart one, and those smarts can send those scammers running for the hills.

The Internet, A Scammers Paradise

The internet is a powerful tool, but also a playground for scammers. They can easily create fake sites or enter chat rooms to target people worldwide. Protect yourself by only sharing personal info on trusted sites, using reputable companies for purchases, and staying cautious with emails. Look out for suspicious sender addresses and verify credibility before sharing any information.

Knowledge Is Power

Before we go into the many types of scams out there, we’d like to give you a few basic rules that you should follow to avoid falling victim to a scam.

By following these and always keeping your head (using those smarts we talked about), you can protect yourself from what we like to call “bad actors”.

  1. If an investment opportunity or deal sounds too good to be true, it generally is. Before you jump in feet first, speak to an authorised financial advisor to get some advice or do some of your research.
    Look out for competitions—no matter how exciting they sound—that tell you that you must pay upfront to claim your prize. This is a sure sign that this is a scam.
  2. If anyone at all calls, sends a SMS or emails you asking for personal information like your ID number, PIN or any banking details, this is also a sign that they are up to no good. And remember, no bank will ever ask for this information in any communication, no matter how official it looks or sounds.
  3. Always—and this is one of the most important rules—keep your personal information like your bank account number, PINs and verification passwords private and to yourself.
  4. Avoid clicking links on emails or SMS messages unless they’re from a trusted source. These links are often used to get your personal information from your phone and other electronic devices without you providing it.
  5. If anyone pressures you to pay for something fast or to make a quick investment, be wary—it could be a scam.
  6. Beware if there’s no paper trail or documentation linked to your investment or purchase—it’s a common red flag.
  7. A healthy dose of scepticism will stand you in good stead. If you sense a red flag or feel unsure, you can end the call immediately and block the number or wait until you have more information. This allows you to respond in an informed and educated way before parting with your hard-earned cash.