Fraudsters Remain Active as South Africans Face New Year Financial Pressures

As South Africans return from the festive season with renewed energy, many households are confronted with the financial realities of a new year. For thousands of families, the beginning of the year is marked by registration fees, textbook purchases, and accommodation deposits for students entering universities and colleges. Yet, alongside this excitement, fraudsters are seizing the opportunity to exploit vulnerable consumers.

“Continuing from Black Friday and the Festive Season, this is one of the busiest times for scammers,” warns Manie van Schalkwyk, CEO of the Southern African Fraud Prevention Service (SAFPS). “The combination of high expenses and the urgent need for cash makes people more susceptible to scams.”

Below are some of the most common scams targeting South Africans during this period.

Loan Scams

Fraudsters lure victims with promises of quick loans and guaranteed approval, regardless of credit history. Once an upfront administration or processing fee is paid, the scammers vanish, or worse, harvest personal information to commit identity theft and open accounts in the victim’s name.

Red flags include:

• Offers of large loans with no credit checks.
• Requests for pre?
• Pressure to act quickly before the “deal” expires.
• Demands for excessive personal information.

“Always remember: if the offer sounds too good to be true, it usually is,” cautions Van Schalkwyk.

Bursary & Scholarship Scams

Education is highly valued in South Africa, and bursaries or scholarships are often seen as critical lifelines. Fraudsters exploit this by charging application fees or promising guaranteed acceptance. Victims may be strung along, losing significant sums while exposing sensitive personal data.

Warning signs include:

• No academic or financial criteria required to qualify.
• Requests for upfront payments to process applications.
• Being contacted about bursaries you never applied for.
• Offers to assist with applications or late submissions.
• Sponsors or bursaries that cannot be verified online.

“These scams prey on hope and ambition. Families must be cautious when approached with unsolicited offers,” says Van Schalkwyk.

Shopping Scams on Social Media

Beyond tuition and registration, parents often face the cost of laptops, uniforms, textbooks, sporting goods, and furniture. Many turn to online marketplaces (like Facebook MarketPlace) for affordable second?hand or refurbished items. Unfortunately, social media has become a breeding ground for fraudsters using social engineering tactics.

Scammers create fake profiles, build trust by befriending victims, and then present “unbelievable deals.” Once payment is made, the goods never arrive, or victims are redirected to phishing sites that steal card details.

Key warning signs:

• Prices that are far below market value.
• Links to spoofed websites (fake websites that look identical to legitimate ones) with suspicious URLs.
• Requests for payment via methods that are difficult to trace (like cryptocurrency, payment vouchers etc.).
• Poor grammar, spelling errors, or inconsistent contact details.

“These scams are dangerous because they exploit trust. Consumers must always verify sellers and avoid unsecure payment channels,” explains Van Schalkwyk.

SAFPS Response: The Yima Scams Prevention Toolbox

Van Schalkwyk points out that the SAFPS offer a range of products, services and platforms that help prevent the public from becoming victims of fraud.

To meet this growing need, SAFPS introduced Yima, a dedicated platform designed to empower consumers in the battle against fraud.

“Yima provides a comprehensive scams prevention toolbox where users can report suspicious activity and scan websites for vulnerabilities,” explains Van Schalkwyk. “It equips South Africans with practical knowledge to spot fraud and gives them the confidence to transact online, whether it’s banking, shopping, or money transfers.”

At the heart of Yima is its reporting function. Consumers can flag fake shopping portals, dubious banking details, or any suspicious online activity. The intelligence gathered is shared with law enforcement and industry partners to strengthen investigations. In addition, a single hotline number (083 123 7226) connects victims directly to banks, insurers, retailers, and the police, ensuring swift action.

Van Schalkwyk adds: “Yima users also benefit from SAFPS consumer protection services at no cost. Protective Registration and Fraud Victim Registration safeguard individuals against impersonation scams. Together with Yima, these tools form a powerful suite of defences against fraudsters. As custodians of fraud prevention in Southern Africa, we are reshaping the threat landscape and giving consumers the upper hand.”

Protect Your Identity with SAFPS Protective Registration

Protective Registration is a free service that alerts SAFPS members to take extra precautions when handling an individual’s details. This added layer of security helps prevent identity theft and provides peace of mind.

“Anyone can proactively register to protect themselves,” says Van Schalkwyk. “Visit www.safps.org.za, upload your details securely, and add another barrier against fraud. It’s simple, effective, and free.”

“Fraud prevention is a collective effort,” explains Van Schalkwyk. “With awareness, vigilance, and the right tools, we can make South Africa a far more hostile environment for scammers.”

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