Here are some tips to avoid being a victim


Weekend breakfast presenter Sara-Jayne King speaks with Ayanda Ndimande, Sanlam’s business development manager for retail credit.

  • Scammers specifically target financially healthy consumers
  • They use various methods to attract consumers, including pre-approved loans via SMS and email
  • Scammers then pounce on consumers who respond to these fake messages and emails

Copyright: Wavebreak Media Ltd / 123rf

According to the Federal Trade Commission, romance fraud like that of Netflix’s hit documentary The Tinder Swindler rose 80% in the United States last year.

The commission reports that $500 million is being stolen by love rats targeting lonely and vulnerable people.

He adds that people between the ages of 18 and 29 were the most likely to send money to someone they met online.

According to a recent study, scams in South Africa are also on the rise.

The study by the rating agency TransUnion shows that 37% of local consumers have recently been targeted by digital fraud linked to Covid-19.

The Tinder Swindler tells the story of several women scammed by fraudster Simon Lievev who lied about his lifestyle and wealth to trick them into giving him money.

Piet van der Walt, business manager at Sanlam Retail Credit, says digital fraud has become very common in South Africa.

Fraudsters have seen the opportunity… they mimic a trust mark and build their own promotional material around it.

Piet van der Walt – Business Manager at Sanlam Retail Credit

They target consumers who they know are in good financial health. They do this by obtaining data that they obtain illegally. If they get your contact information, they will send you marketing messages.

Piet van der Walt – Business Manager at Sanlam Retail Credit

RELATED: Most of Us Have Abandonment Wounds, That’s Why It Worked – Tindler Swindler Scam

They try to lure you in by offering a very low interest rate value proposition. Easy to obtain loans and very high loan amounts.

Piet van der Walt – Business Manager at Sanlam Retail Credit

If the communication address is open, it is a first sign. A legitimate business will always address you by name.

Piet van der Walt – Business Manager at Sanlam Retail Credit

RELATED: Tinder Swindler Victim Pernilla: I’d Be The World’s Worst Gold Digger

If it sounds too good to be true, go to that bank or lender’s website instead and contact them directly if you think the offer is suspicious.

Piet van der Walt – Business Manager at Sanlam Retail Credit

They say the loans are easy to get. You do not have to send qualification documentation. Banks and lenders don’t work like that. By law, they have to make sure you can afford the loan. They must go through a thorough process to determine your income.

Piet van der Walt – Business Manager at Sanlam Retail Credit

Scroll to the top of the article to listen to the interview.


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