7 scams which could cost you your savings

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Cape Town - Ask around in your circle of friends – there will be someone who has a family member or friend who lost their savings in some scam. It happens quickly, easily and regularly.

Targets are chosen carefully

Scammers are also getting more and more sophisticated, and they make use of a variety of methods often to target newly retired people, or people who are known to have some life savings. Also be on the lookout for identity theft, a scam in which someone uses your personal details to open accounts and make fraudulent purchases.

Support independent journalism
Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
15.24
+0.0%
Rand - Pound
20.59
+0.0%
Rand - Euro
17.23
+0.0%
Rand - Aus dollar
10.91
+0.1%
Rand - Yen
0.13
+0.1%
Gold
1,847.16
-0.1%
Silver
23.73
-0.4%
Palladium
2,186.00
-0.8%
Platinum
1,028.29
-0.1%
Brent Crude
88.20
+2.2%
Top 40
65,870
0.0%
All Share
72,315
0.0%
Resource 10
72,883
0.0%
Industrial 25
89,866
0.0%
Financial 15
14,799
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot