It seems these days the only thing south African youths look out for is how to make money illegally very fast with minimal work.
As a result of this mindset, many south Africans go into different illegal activities both Online and locally.
Today am going to be highlighting 5 illegal ways of making money in South Africa.
Read Also: How To Earn Money Online In South Africa
Disclaimer: This post is only to expose these scams to you so you know how to avoid them in the long run. It is in no way a form of encouragement to partake in such illegal activities.
Table of Contents
5 Ways of Making Money fast illegally in South Africa
- Internet/Email Scams
- Fake Investment Company Scams
- Fake Sure/FIxed Betting
- Selling Fake iTunes Cards
- Bitcoin Scams (Cryptocurrency Scams)
The internet, the main source of illegal activities in South Africa and in most countries right now. Its no surprise that the internet has become the number one source of scams and illegal activities, according to HostingFacts there were over 4.1 billion Internet users in the world as of December 2018.
The main reason people go into these online illegal activities is that its very simple to create these scams and people tend to fall for them a lot.
The police and cybercrime security also seem to be very inefficient in capturing the culprits after getting several reports on internet fraud.
Some Well Known Internet Scams in South Africa
- The 419 Scam (Advance Fee payment)
- Pre-Approved Notice
- The Phishing Scam
- Disaster Relief Scams
- Travel Scams
- Lottery Scam
You can get more information about these scams from INVESTOPEDIA’S Scam article
The 419 Scam (Advance Fee payment)
The 419, or “Nigerian Scam,” is one of the most common scams on the Internet, one you may have already seen in your own inbox. According to the FBI, this fraudulent scheme, named after the article of Nigerian Criminal Code that outlaws fraud, drew $12.7 billion into the pockets of fraudsters between 2013 and 2018.
You receive a letter or an email declaring that you have been pre-approved for either a credit card or bank loan. Those experiencing financial strain may fall victim to this scam, which promises instant approval and appealing credit limits. The catch? You must pay a fee upfront and at the time of sign-up.
The Phishing Scam
You receive an email from a seemingly familiar enterprise you deem legitimate such as your bank, university or a retailer you frequent. The message directs you to a site – usually to verify personal information such as email addresses and passwords – that then steals your information and exposes your computer to attack by scammers. Phishing scams are some of the most common out there.
Fake Investment Company Scams
If you were a victim of the old MMM Ponzi scheme then this should be something your familiar with. Currently, there are thousands of fake investment websites online claiming to give up to 90% returns in short periods.
Surprisingly, up until date a lot of internet users from South Africa still fall for these petty tricks just because of the mouth-watering offer of making easy money.
It’s very easy to design such sites and make them look legit. Fake company certificate, Staff images, Receipts, and testimonies. All to convince you t invest.
a good solution to this is making quality research before paying for anything. Find someone close by who does the same investment, check online forums for real feedback and you should be saved.
Fake Sure/FIxed Betting
This Scam surfaces the same time online betting became popular. Facebook seems to be the home for these criminals these days.
What they do is to promise you fixed betting outcome tips for a large sum of money, immediately you pay them the next thing they do is coin fake predictions and send to you.
The victims unknowingly to them proceed to these betting sites and stake a larger amount to make a profit. Believe me, the end is never good.
People lose millions daily just because of their ignorance, there’s no such thing as fixed matched betting and even if there was, facebook isn’t the best place to get real tips.
The scammers themselves are very tricky, they post pictures of expensive cars, trips to Dubai, money withdrawn in the bulk, etc. just to influence people.
Just stay clear of anything considered FIXED and you’ll be saved.
Selling Fake iTunes Cards
This one is popular with the youths, an iTunes card is a merchant gift card where funds on the card are used to pay for iTunes products.
So it’s simple, once you get the pin of an iTunes card you can use to fund your iTunes account. Scammers exploit this by selling real iTunes gift cards for the first few times after receiving payment then making way with the victims’ money during one of the transactions online.
It’s straight forward, you pay me a few times and I give you the real stuff after you’ve trusted me fully, I insist you deposit first as am having issues with bank or some other excuse.
That’s it, your money disappears.
Bitcoin Scams (Cryptocurrency Scams)
This became popular just a few years ago, though the scam rate has reduced over the years due to people getting wiser over time, it remains a serious scam to be wary of as a South African.
Bitcoin is an innovative payment network and a new kind of money. It’s more like virtual money, it doesn’t have any physical representation.
as of when I wrote this article, a single bitcoin is worth 150,189.81 South African Rand. that’s a lot of money right? some people have lost more than 30 of those due to scam.
Some popular bitcoin scams from Bitcoin.org include;
These are just but a few ways scammers use to make money in South Africa and worldwide too. I hope you’re wiser now as that was the purpose of this article.
You can also leave a reply below of other forms of scams you’ve encountered before, I’d be happy to add to the list.