Before being lured by promises of huge discounts and incredible sales, be aware that social networks are used by fraudsters to obtain your personal information or to defraud you. Photo: iStock
This week is Fraud Awareness Week (November 13-19) and the Southern African Fraud Prevention Service (SAFPS) warns of the risk of social media fraud.
Before being lured by promises of huge discounts and incredible sales, be aware that social networks are used by fraudsters to obtain your personal information or to defraud you.
According to Manie van Schalkwyk, CEO of SAFPS:
It’s important to know how these scams are conducted and what some of the red flags of these situations might be, so people can watch out for them before they become victims.
Van Schalkwyk says the most common tactic used by fraudsters is social engineering. Most social media users are aware of targeted advertising, where advertisements for products they search for online are packaged and presented on their timeline. But not all of these links are genuine.
Fraudsters use targeted advertising to lure consumers to a proxy site where all of their personal information is provided.
From there, fraudsters can easily impersonate the consumer and use that identity to commit fraud.
Identity theft has always been a major crime in South Africa as fraudsters prey on their victims through phishing, smishing and vishing.
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Van Schalkwyk says:
Identity theft increased by 264% in the first five months of the year, compared to 2021, and could be linked to recent major data breaches. The various data breaches have all highlighted the vulnerability of personal information and its ease of access for the motivated criminal.
Earlier this year, the Consumer Goods and Services Ombud (CGSO) annual report highlighted how consumers are being defrauded by online operators.
A quarter of all complaints to the CGSO relate to e-commerce in cases where consumers have paid for products advertised online but never received them.
While some were service issues from legitimate providers, the vast majority involved rogue operators running a scam.
According to the mediator, Magauta Mphahlele, the main products affected were clothing, electronics and hair extensions offered through platforms such as Facebook and Instagram.