Capitec has highlighted the most prevalent scams targeting consumers in South Africa in 2024.
Banking group Capitec outlined the most prevalent scams targeting its consumers in 2024, including one known as “pig butchering.”
Authorities and banks are urging the public to be vigilant and adopt stronger security measures to combat this growing threat. Push payment fraud, where victims are tricked into authorising payments to criminals, has become increasingly common. This scam, originating from Southeast Asia, involves fraudsters who meticulously “fatten up” their victims before financially “slaughtering” them.
Victims, believing they are making profitable investments, are persuaded to transfer increasingly larger sums of money. Research any investment opportunities thoroughly and ensure they are offered by authorised financial service providers.
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