FIC: Steps to avoid being victims to scammers

FIC: Steps to avoid being victims to scammers

• 22 December 2025
• Money Laundering
• South African Accounting Academy

Summary:
The Financial Intelligence Centre (FIC) has reminded consumers again on steps that can be taken to avoid being victims to scammers – especially during the holiday season.

Article:
A report was published in 2024, which offers tips on how to avoid falling victim to scammers festive season. Refer to our previous Alert dated 11 December 2024

Steps to take to avoid falling victim to holiday scams:

• Do not entertain unsolicited calls and never provide any personal information or make agreements with the callers.
• Compare prices being offered to competitors to check whether the deals are too good to be true or match market prices.
• Check whether secure payment methods such as credit cards and PayPal are used.
• Be cautious of persons or businesses that require crypto assets as a payment method.
• Make use of virtual cards when making payments as they often change CVV number for security purposes
• Bogus websites often appear unprofessional, lack clear contact information and a physical address, have suspicious domain names, do not have an SSL certificate or may have an unusual extension like “.info” or “.biz.

What to do if you fall victim to a holiday scam:

• Open a case with the South African Police Service (SAPS)
• Report to the financial institution used to transfer the funds and provide them with the case number and full details of what happened
• Report incident to the National Consumer Commission (NCC).

Access the 10-page report titled: Crime does not take a holiday – Avoid being scammed this festive season, that was published in November 2024 at https://www.fic.gov.za/wp-content/uploads/2024/11/Typologies-Holiday-scams-publication-2024.pdf 

Click here to access information on the FIC’s reminder on holiday scams:

https://www.fic.gov.za/2025/12/02/holiday-scams/ 

Relevance to Auditors, Independent Reviewers & Accountants:

• Accountable Institutions should stay up-to-date with the latest developments that affect professional accountants, money laundering and terrorism financing – specifically publications issued by the FIC.
• As a consumer, you also need to be aware of the latest scams that are aimed at separating you from your money.
• As a consumer, you also need to be informed of steps to take to avoid being victims to scammers.

Relevance to Your clients:

• Accountable Institutions should stay up-to-date with the latest developments that affect professional accountants, money laundering and terrorism financing – specifically publications issued by the FIC.

• As consumers, your clients also need to be aware of the latest scams that are aimed at separating them from their money, as well as the steps to take to avoid being victims to scammers.

0 COMMENTS

LEAVE A COMMENT