How to protect yourself from investment scams

IMAGINE pouring your hard-earned money into an investment, trusting the promises of wealth and prosperity, only to find yourself empty-handed, shattered, and undone.

- DIEKETSENG MALEKE

This is exactly the cautionary tale unfolding for those caught up in the financial schemes of Jacques Adriaan Jordaan, a name now ringing alarm bells, thanks to the Financial Sector Conduct Authority (FSCA).

Let me share my personal insight here. I, too, once found myself navigating through a sea of enticing investment offers on social media.

The promises of “guaranteed high returns” were incredibly alluring, and the testimonials lacking even seemed convincing. Luckily, she paused before making any deci-sion, and that pause saved her from falling into the trap of unauthorised financial advisors. She called FCSA for advice and I told her that what she was seeing was a scam and that she should be careful and not invest.

The FSCA has made it clear that unauthorised individuals and social media “investment gurus” often will deceive. It is on us, the public, to question and verify every offer that comes our way.