South Africans warned about festive season scams

From ATM card swopping, to phishing scams, the group has cautioned criminals will go to extreme lengths to cheat people out of their festive season bonuses.

Picture: EWN.

CAPE TOWN - The South African Banking Risk Information Centre (Sabric) has warned that criminals have found new ways to swindle you out of your money this festive season.

From ATM card swapping, to phishing scams, the group has cautioned criminals will go to extreme lengths to cheat people out of their festive season bonuses.

Sabric CEO Kalyani Pillay has highlighted, among others, ATM card swapping, targeted robberies, the money bomb scam and muti scam as some of the most prevalent ways criminals target unsuspecting victims over the festive period.

Pillay explains with the money bomb scam, criminals would roll up what appears to be bank notes but it's actually just paper covered by one authentic bank note.

They'd then target a person leaving an ATM or bank branch and strategically leave the wad of money in the victim's sight.

“But what they do is when they drop this roll of money they know the person is going to stop. They then say to them they can jointly share this money and they should rather go to a quieter spot where they can do the sharing of this money. When they get to that spot, they then obviously rob the victim of that money.”

Pillay has urged people to be vigilant and cautious when dealing with their money, adding they should carry as little cash as possible.

(Edited by Mihlali Ntsabo)