by SAVIOUS KWINIKA
JOHANNESBURG, (CAJ News) – SOUTH Africans are being urged to exercise caution as cybercriminals increasingly exploit the popularity of online trading and digital investment services.
Cybersecurity firm Kaspersky reports that since 2024, its solutions have blocked over 27,000 phishing scams targeting local users with fake investment platforms.
These platforms aim to steal sensitive information such as credit card details and login credentials, potentially leading to identity theft and financial loss.
Fake investment platforms often appear highly legitimate, complete with dashboards, trading charts, and customer support features.
Victims are typically approached through social media, messaging apps, or unsolicited phone calls, with scammers posing as financial advisors promising rapid, high returns.
Once users deposit funds, the platforms simulate trading activity, showing rising profits to maintain credibility, even though no real trading occurs.
“Online scams have become increasingly sophisticated,” says Olga Altukhova, Senior Web Content Analyst at Kaspersky.
“Cybercriminals leverage trust, advanced technologies like AI, and professional designs that mimic real investment sites. This sophistication makes it challenging to distinguish fake from real. Users should check website domains, spelling, payment methods, and secure encryption before sharing any data.”
Kaspersky advises South Africans to follow key steps to protect themselves:
- Use licensed, reputable platforms. Only invest through regulated services with proven credibility.
- Verify before sharing information. Avoid giving personal or banking details to unknown individuals or unverified sites.
- Question promises of guaranteed returns. High-pressure tactics and ‘limited time’ offers are common scam strategies.
- Do thorough research. Ensure you understand the investment or currency and confirm that the platform is properly licensed.
- Strengthen online security. Use strong, unique passwords, enable two-factor authentication, and keep apps and operating systems updated.
- Leverage cybersecurity tools. Solutions like Kaspersky Premium can block phishing sites and protect both computers and mobile devices.
As online investment grows in popularity, awareness and caution remain critical.
“Paying attention to basic details and using trusted security solutions can prevent financial and personal data loss,” Altukhova adds.
Kaspersky, founded in 1997, protects over a billion devices worldwide and provides cybersecurity solutions for individuals, businesses, and governments.
Its offerings include digital life protection, corporate security services, and advanced threat intelligence to combat emerging online threats.
– CAJ News
