Sabric: More people fall victim to get-rich-quickly schemes

Sabric's Kalyani Pillay says if a deal sounds too good to be true, it probably is.

Picture: Christa Eybers/EWN.

CAPE TOWN - The South African Banking Risk Information Centre (Sabric) says as the cost of living is escalating, more people are falling for get-rich-quickly schemes.

It's also urging people to be more vigilant and check bank statements for unauthorised debit orders.

City of Cape Town electricity will cost more this month and, from today, motorists will pay more to fill up their tanks.

Sabric's Kalyani Pillay says if a deal sounds too good to be true, it probably is.

"There's been things that include world benches, one called Kipi and I think MMM is the one that's been doing the rounds quite a bit in south Africa. We should be wary of that."