Crypto, forex scammers thrive on financial illiteracy
Friday, December 17, 2021 | 4730 Views |
Pushing back: White and Motshubi say greater financial literacy could foil scammers
Rather than raw greed, local authorities believe the increase in victims of cryptocurrency and forex scams is being driven by poor financial literacy in the country.
Scammers coast past the country’s existing laws and safeguards by using the Internet and social media, to target the financially illiterate with offers that are simply too good to be true.
The rise in defilement and missing persons cases, particularly over the recent festive period, points not merely to a failure of policing, but to a profound and widespread societal crisis. Whilst the Police chief’s plea is rightly directed at parents, the root of this emergency runs deeper, demanding a collective response from every corner of our community. Marathe’s observations paint a picture of neglect with children left alone for...