How to avoid financial scams by making more informed decisions

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How to avoid financial scams by making more informed decisions
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Now that the holiday season and Valentine’s day and the financial scams that come with the celebrations are over, consumers must stay vigilant.

As 2025 sets in and South Africans find their feet after Januworry, financial scams remain a threat, with the 2024 Identity Fraud Report noting fraud rates in South Africa soared by more than 300% while nearly 5% of all attempted digital transactions were suspected to be fraudulent in the first half of the year.Certain industries are rife with fraud and scams, and the financial services industry is one of them.

“Do not trust anyone who boasts about a great opportunity as their tactic is to wow you with their greatness and promises and then put you under pressure to make a decision. There is no shortcut to wealth creation, especially in a cost-of-living crisis. Do not be swayed otherwise.” That is why Hamman says engaging with a qualified, registered financial adviser is crucial for navigating today’s financial landscape.

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