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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

Would you believe someone who promises you an investment that will earn one percent per day over a year? Or who tells you about an exciting new trading platform where returns are guaranteed? If you would, you are prime target for a scam, writes Staffer, MBONGENI MGUNI

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.

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Crypto, forex scammers thrive on financial illiteracy

Would you believe someone who promises you an investment that will earn one percent per day over a year? Or who tells you about an exciting new trading platform where returns are guaranteed? If you would, you are prime target for a scam, writes Staffer, MBONGENI MGUNI

Search continues for Maun boy feared to have been taken by a crocodile

Inimba Gets the Nod for Season 2 on Mzansi Magic

Peace conference addresses growing list of social ills

GAYO Botswana and BA ISAGO University Forge Major Partnership to Advance Climate Education and Youth Leadership

Pastor accused of defiling Teen during counselling session

FIFA World Cup draw – The countdown begins!

DIS Director's daughter rape case stalls

Main Mall’s resilience, sturdiness in the face of stiff competition

Depression is real; let's take care of our mental health