At least 498 people lost a total of at least $25.5 million to investment scams since last month.
Scammers would build rapport with victims over time to gain their trust before introducing “investment opportunities”. By then, victims were inclined to believe scammers and follow their instructions in conducting transactions under the pretext of their “investments”.
Victims would only realise they had been scammed when they could not withdraw their “profits” or could no longer contact the scammers. These scammers target victims who respond to their outreach and lure them to “invest in opportunities” with high returns in a short time. These claims are often accompanied by fraudulent testimonies.
In some of these cases, victims would receive phone calls or messages from scammers posing as staff from investment companies or brokers.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
At least $25.5 million lost to investment scams since JuneSINGAPORE – At least 498 people have lost no less than $25.5 million to investment scams since June this year. Read more at straitstimes.com.
Read more »
Malaysian lawyer says a law criminalising men who enticed married women is unconstitutionalLawyer Jayarubbiny Jayaraj said Section 498 of the Penal Code violated women’s right to equality before the law. Read more at straitstimes.com.
Read more »
Woman horrified to find 'worms/maggots' in Nestlé coffee capsule box ordered online - Singapore NewsTiny worms/maggots at the bottom laying half dead. Some were still moving, half alive. Do you think this is acceptable?” the woman said in shock
Read more »
At least $25.5 million lost to investment scams since JuneAt least 498 people have lost no less than $25.5 million to investment scams since June this year. The police said on Wednesday that the victims were duped into parting with their money for “investments” in cryptocurrencies and stocks among others. They had...
Read more »
China president Xi Jinping meets former US secretary of state Henry Kissinger in BeijingKissinger played a key diplomatic role in normalising ties between Washington and Beijing in the 1970s. Read more at straitstimes.com.
Read more »
China's President Xi meets with Henry Kissinger in BeijingBEIJING: China's President Xi Jinping met with veteran US diplomat Henry Kissinger in Beijing, state media reported on Thursday (Jul 20). He met with Xi at th
Read more »