With the pandemic moving us further online so to have scams. Online scams have been rampant in Namibia with the most common being fraudulent job offers, non-delivery of merchandise, romance scams, card fraud, pyramid schemes and cryptocurrency scams. Falling for a scam is painfully embarrassing and it can happen to any of us. A second of inattention leaves us vulnerable.
In one of the latest scams scammers are using names of prominent people who allegedly need assistance in a form of cash; while others are using prominent names to offer assistance however upon a fee. Only for you to realise you have been taken for a ride. Its therefore vital, to authenticate and confirm the legality of every transaction you engage yourself.
What’s worrying is that the internet has made us easier targets for scammers as they can easily access our personal information online. Social media sites are effectively a gateway in which scammers are getting access to vast numbers of people in the population through online searches. For scammers, social media is a hotspot for dubious activity. To begin with it’s a low-cost way to reach billions of people from anywhere in the world. It’s easy to manufacture a fake persona, or scammers can hack into an existing profile to get “friends” to con. There’s the ability to fine-tune their approach by studying the personal details people share on social media.
The internet is a predatory place. Social media fraud committed on Facebook and WhatsApp; this deception is increasing. We have all heard stories where our colleagues have been scammed trying to buy something they saw advertised on social media. Goods are advertised, and without any further verification, consumers transfer funds through cash transfer services. Once the fraudulent business receives the funds, the money is immediately withdrawn with posts and profiles related to the sale deleted, and phones not answered.
Facebook Marketplace is quite popular locally as a platform for local sales. Think of it as the classifieds section in a local newspaper, particularly when it comes to peer-to-peer sales. When selling a high-value item, it’s therefore best to only entertain offers from local buyers who are willing to meet in person. You should never pay for anything that you intend to collect in person without first seeing (and inspecting) that item. If a seller asks you to pay for an item in advance that you have not seen in person, walk away. You should remain suspicious even if the seller shows off the item on a video call since you cannot verify that the item is in your local area. If you’re interested in an item agree to meet the seller in a well-lit, public area and agree on a method of payment beforehand.
I for one believe that to safe guard yourself on social media is to limit who can see your posts and information on social media. Visit your privacy settings to set some restrictions. Also, if you get a message from a friend about an opportunity or an urgent need for money, call them. Their account may have been hacked – especially if they ask you to pay by wire transfer or mobile money payments such as ewallet or bluewallet. That’s how scammers ask you to pay.
In this era of remote working job offer scams have thrived. Generally, the process of searching for a job can be disorienting, leaving you vulnerable to scams. And when that job email finally pops up it always sounds like a dream job. And, usually its one you didn’t apply for. To accept the job, you will be asked to pay for a starter kit or materials relevant to the job or scheme. What you will get is not what you paid for. Its always essential to never accept a job without an interview.
Another scam taking over is cryptocurreny related. Cryptocurrency scams have skyrocketed during the pandemic and continue to thrive due to limited regulation. It’s easy to understand, Bitcoin’s price is four times higher than it was three years ago. This soaring value is quite enticing. This is what the scammer will make you believe. These digital currencies have flooded the internet. There is Bitcoin, Monero, Ethereum and Dogecoin. However, it could also be a source of misfortune because there are a lot of scammers who have filled the online space, duping many gullible investors traders, most especially new traders, promising bountiful and unrealistic returns.
Closely related to Cryptocurrency scams is investment fraud. The typical investment fraud schemes are characterized by offers of low- or no-risk investments, guaranteed returns, overly-consistent returns, complex strategies, or unregistered securities. Examples of investment fraud include advance fee fraud, Ponzi schemes, pyramid schemes, and market manipulation fraud. The perpetrators range from professional investment advisers to persons trusted and interacted with daily, such as a neighbor or. The fraudster’s ability to foster trust makes these schemes so successful.
Investors should use scrutiny and gather as much information as possible before entering into any new investment opportunities. for additional information. It is essential to be cautious when responding to special investment offers, especially through unsolicited e-mail. And to be very cautious when dealing with individuals/companies from outside Namibia.
Romance scams go way back. The search for love online can be “a dangerous game’’. Netflix’s documentary Tinder Swindler has been a major hit globally. For those not in the know, it delves into the life and exploits of serial conman who conned hordes of women on the dating site Tinder. But the romance scams are everywhere online. My take is that the documentary represents all that is bad about love search on social media, whether it be Tinder, Instagram, Facebook or Twitter. Technology breeds crime. It always has and always will. Its pivotal that if someone appears on your social media and rushes you to start a friendship or romance, slow down. Read about romance scams. And never send money to someone you haven’t met in person. Always take everything with a grain of salt.
We are notoriously poor at detecting deceit, if the liar is fluent enough and the story slightly convincing. We are likely to believe in the fraudster. The onus is, however, still on us consumers to ensure they we do not fall into the elaborate traps that fraudsters set in the digital sphere. Caught at the right moment of vulnerability, anyone can fall for an online scam. When you’re prepared, however, spotting an online scam is fairly straightforward.
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