Scammers are becoming increasingly sophisticated in the digital age. A favoured trick is to pretend to work for an existing company and use a copy of that company’s logo and other material from their website to lure the unsuspecting, who think they are handing their money over to a well-known, legitimate company.

Promises of exceptionally high, guaranteed returns

No investment company can predict the future, or guarantee by how much your money will grow. If it seems too good to be true, it probably is; promises to double or triple your money in a short period of time mean it is very likely to be a scam.

You must pay fees upfront

Typically, with investment companies, fees are paid as a portion of the amounts invested or on the growth of investments. A request for upfront payment is always a red flag.

A sense of urgency, as if you are running out of time

If you are being pressured to take action quickly, ask yourself why you would you not be given time to do your own research or think things through. Never rush into a new investment.

You are asked to deposit money before you complete the FICA process

When it comes to investing, depositing the money is usually the final stage of the process of getting started. You will first need to supply your details and documents, be vetted, and go through the government-mandated FICA process. No reputable company will ever ask you for money upfront.

You are contacted via Whatsapp, or from a free email account

Make sure you check where any messages are being sent from. If they come from a private phone number or one of the many free email services (such as Gmail, Yahoo or Hotmail) proceed with utmost caution.

If you think you are being scammed, go online, look up the company name, find the authorised website and dial the number listed. Do not pay any money unless you are 100% convinced the company is legitimate.