FSCA warns not all that glitters behind investment schemes is road to riches

She has a degree in finance, works at a respected firm in Sandton, and has built a reputation for being a professional at the go-to company on all things money. But when she lost R10000 in a Forex scam, she couldn't bring herself to tell anyone not even her closest colleagues.

- By Tshwarelo eseng Mogakane

"I still can't believe I fell for it." she said, requesting anonymity. "Everything looked legit - the branding, the testimonials, the screenshots of profit charts.

"They even showed happy clients who claimed they'd bought cars and paid off student loans."

The scam was dressed in excellence: high-end visuals, professional-sounding representatives, and an online trading app t showing her money "growing" daily. Then came the moment of truth.

"The day I tried to withdraw, the system froze. Then I was locked out completely. My trader disappeared. The website vanished. My money was gone."

What followed wasn't just financial pain - it was also psychological.

"I was humiliated," she said. "I'm a professional. I should've known better. But that's exactly why I kept quiet. Because people don't see victims of scams as victims. They see them as greedy. Or stupid."