A Word to the Wise

Written by Dave Sykes - Burcor Forensic Services | +27 83 357 8148

SCAMS

In today’s tough economic times, many people out there are trying to make “a quick buck” and the easiest place to make “a quick buck” is off the generosity or naivety of others. Many of us have received that email, claiming we have won a completion … that we didn’t even enter or from some foreign government official claiming they need help to move funds offshore. Most of those types of scams are easy to spot and ignore. It gets more difficult when you are searching for a particular product or item to purchase and then you stumble onto that proverbial deal that is “too good to pass up”. The deal is so good that it causes you to overlook red flags that are clear to see.

SO WHAT IS A SCAM?

Merriam-Webster online dictionary defines a scam as… “a fraudulent or deceptive act or operation”. So a scam is just an act or operation (many actions) that is designed to defraud another person. Where a plan was a hatched and placed in motion… through either physical actions, the production of documents or the telling of a story… but where in all instances the objective is to take property or money or attempt to take property or money, away from somebody else or the rightful owner.

COMMON DAY PROBLEM AREAS

The 3 most common places or instances where “scams” or Fraud is likely to happen are… Online buying and selling … Bogus charities or charitable causes and lastly… Offers too good to be true, as previously mentioned.

Online buying and selling; in the age of the internet, never before has it been so easy to buy or sell goods. This is a good thing but can also lead to disappointment. So if you do decide to engage in online commerce be very aware of dangers. Most big stores have an online presence so I’m not referring to those. I’m referring to the private buying and selling of items and where the value or money involved is substantial to you (we all have different value systems so what is substantial to one may not be substantial to another).

Bogus Charities or charitable causes; human nature is such that when we see people in need, we want to help out wherever we can but that trait is also exploited by fraudsters. There are many examples of bogus or fraudulent Charities asking the public to donate money towards causes or programmes that don’t exist. Or where people approach you directly with a sad and tragic story and ask for donations.

The too good to pass up deal; where you happen to come across advertising or are approached about a “deal” that will save you hundreds if not thousands of Rands. Or where adverts pop up in your social media feeds offering you products or services at much discounted rates.

SOME HELPFUL TIPS

Make sure the person you are dealing with has the authority to sell or buy that item and that they actually have an item for sale. If selling an item make sure your own bank confirms receipt of the funds before releasing the item. Never rely on email proof of payments or text messages from the buyer, all of these can be manipulated. If buying, then ask to meet and inspect the item to make sure it is what you had in mind, once satisfied then make the transfer… never arrive with large amounts of cash to inspect the goods. Don’t be pressured into making a payment or release the goods without being completely satisfied. Any reasonable, legitimate seller or buyer shouldn’t have a problem with this… if they do… be very aware. Always insist on some type of sales receipt. This doesn’t have to be formal, just a simple hand written or typed note that contains the relevant information of all parties and which has place for all parties to sign in agreement of the transaction. All charities should be registered, so ask for those documents and verify them before making any donations. Anyone approaching you directly for donations should be directed towards a local registered charity that can provide the necessary assistance, then make a donation to that charity. A deal that sounds too good to be true … is normally too good to be true. Everyone likes a “good deal” or “special offer” but slow down and make a rational decision … don’t be rushed to make a decision on the spot. If the deal is legitimate, the salesperson will allow you time to make your own decision. Always, always apply good common sense when contemplating any of these types of transactions. And where you feel “uneasy” about anything, reach out to a trusted friend or family member for advice.

WHAT TO DO WHEN THINGS GO WRONG?

If you entered into some type of transaction… no matter the monetary value involved… and you were “scammed” or defrauded always report the matter to the South African Police Service.

You may have some vital information that could help the police make an arrest or when an arrest is made later, your case could be added to the criminal charges that will be brought against the perpetrator.

The reporting will help the police identify criminal trends and so may lead to extra resources being allocated should the trend require it.

Also report the matter to your bank, and ask that any payments be stopped or at least funds frozen pending the police investigation.

All commercial transactions require trust, the trust however must be evident from both parties so if you feel that you are being asked to trust “more” than the other party, this is a clear red flag and should warn you to proceed with the utmost caution.

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