A new scam is doing the rounds on WhatsApp in South Africa, promising R1,000 in returns for a R200 ‘investment’.<\/p>\n
The scam operates as a purported ‘savings club’ or stokvel, where users join the club with R200 and are encouraged to invite as many other people to join as possible.<\/p>\n
By recruiting more members, your ‘name’ climbs up the list to get paid out R1,200. Users can then re-join with R200 and enjoy ‘profits’ of R1,000.<\/p>\n
The scam operates like a typical pyramid scheme, and the National Stokvel Association of South Africa (Nasasa) has sent out official notice warning people to steer clear of it.<\/p>\n
The association said that fraudsters were using social media as a channel to lure in victims under the guise of being saving schemes, but they were simply scams.<\/p>\n
The South African Police Service (SAPS) also put out a warning to members of stokvels, along with tips on how to avoid falling victims to scams.<\/p>\n
\n#sapsHINT<\/a> If you are a member of a cash savings club (#stokvel<\/a>), advise members of your club to be extra cautious & not to fall victim to scams. Safety tips #CarryingCashSafely<\/a> @Sabric<\/a> @nationalstokvel<\/a> MEhttps:\/\/t.co\/0JQuBwOZLC<\/a>https:\/\/t.co\/WQQ2eGgHcj<\/a> pic.twitter.com\/XqTb4WVawr<\/a><\/p>\n
\u2014 SA Police Service (@SAPoliceService) October 9, 2019<\/a><\/p><\/blockquote>\n