Advice from fraud investigators for 2019

Advice from fraud investigators for 2019

As we enter the new year, IRS Forensic Investigations has warned the public not to fall prey to scams.

During 2018 there was a reported marked increase in fraud, especially involving cyber crime.

The IRS has investigated multiple cases and shares advice so that you don’t become a crime statistic:

1. Many fraudsters are currently using the current crypto currency craze to dupe people into investing into non-existent schemes.

2. Another current fraud doing the rounds is fraudsters convincing victims to invest in non-existent Forex trading platforms.

3. Always ask someone giving financial advice if they are Financial Advisory and Intermediary Services (FAIS) compliant. Ask for their Financial Service Providers registration number and check with the Financial Sector Conduct Authority (FSCA).

4. Check that any stokvel you are planning to invest with is registered with the National Stokvel Association of South Africa.

5. Fraudsters targeting individuals for their hard earned money are more prolific now than ever. Be wary of get rich quick schemes.

6. Fraudsters are sociopaths with no conscience. They will not hesitate to smooth talk you into ‘investing’ your life savings/pension money.

7. Fraudsters are called con artists because they are CONfident and CONvincing.

If you suspect you, a friend or family member is a victim of a scam, or if you want to report fraud, contact the IRS via


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