Connect with us

Invest

How my grandmother fell victim to financial scammers by investing her pension money

How my grandmother fell victim to financial scammers by investing her pension money

A lot of people fall victim to financial scammers in desperate need for money and easy cash, it is therefore important to know where to draw the line when it comes to investing.

I came to witness that a lot of people fall victim to being scammed, all in the name of quick, easy and fast money. It is important not to trust unknown financial schemes, as not all of them are legal.

It was years back when my grandmother invested R500 into a financial scheme named ‘’Kipi’’. The financial scheme promised a turnover of R10 000 from an initial payment of R500 after a period of six months. I couldn’t understand how this was true and although I told my grandmother that the scheme sounded untrustworthy, she paid no mind to me because her friends had gotten their interest before the year ended.

She invested her pension money, all in the hopes of receiving her interest back. Unfortunately, the ship sank before she could reap her rewards as these financial scammers were nowhere to be found. According to stories from other victims, only a few people received their money because they wanted them to spread the word. Be very mindful of where you invest your money, to avoid suffering the same fate and falling victim to a scam. Research the company. Most reputable financial institutions have been in existence for decades and have a great track record. Rather invest with those institutions.

Phumie

Comments

Trending