Inside a cryptocurrency scam

In this My Money, My Lifestyle podcast we delve into the world of crypto scams which seem to be mushrooming everywhere despite repeated warnings from our authorities. How do these scams work? How do people get lured into parting with their hard-earned cash? And is this the work of an organized criminal syndicate?

We talk to scam victim Tshepiso about how the fraudsters convinced her to part with nearly R100 000. Jean le Roux, research associate for the Atlantic Council’s Digital Forensic Research Lab explains how social media networks are used to lure potential victims and Marius Reitz, Luno’s GM for Africa explains what victims can do if they are caught in a scam.

The aim of this podcast is to give you a real insight into how these scams work so you are not fooled by them, you don’t believe the fake testimonies and pictures you see on social media and please share this podcast with those who you believe are vulnerable. The only way we are going to stop them is to stop giving them our money.