Scambusters Scam Dangers

Recognise The Dangers

As a South African site, we focus primarily on the scams that are either born and bred on our shores or international platforms which are aimed at the African continent. Africans are notoriously known to fall prey to scammers as they pursue “Financial Freedom” on a continent known for abject poverty.

In this section, we will explain specific online platforms and the mechanics behind them. This will assist people in recognising the dangers and why they will inevitably lose money.

All of the systems that are unsustainable, having no product, are based on mathematics. Unfortunately, most people do not understand this or take the time to understand or study the evidence presented.

People being paid is NO indication of sustainability, but more a carrot to recruit people into the TRAP.


1. Research all the names of the Owners AND the Leaders/top Promoters.

2. Find any reviews, scam or otherwise and read them ALL. You will find many points that feature in all of the reviews.

3. If anyone of the Leaders/top Promoters or Owners have a track record of having been in scams, do not invest. Many of these online marketers hone in on the get rich quick schemes. They are professionals at this business and have learned how to manipulate systems.

4. If any returns are guaranteed or there is a consistent return of a certain percentage per day or per month, DO NOT TOUCH IT. Trading can never give consistent returns daily, monthly or otherwise!

5. If you are paying your money into any central account whether in Fiat Currency or CryptoCurrency, the account holder should be registered with the relevant authorities in the countries where the platform is operating. Do NOT listen to the “CryptoCurrency is not regulated, so the company does not have to register” excuse. Any legit company will be registered to give the investors and themselves protection.

6. 99% of online scams elect to use Bitcoin as their only method of payment. If this is the only method of payment, BE VERY VERY CAREFUL.

7. Platforms promoting compounding of your ROI’s are absolutely going to run into trouble sooner or later. Compounding is the biggest problem when new investments are being used to pay off older investments. There just is not enough money and this happens quite quickly.

8. Ponzi schemes usually last around 12 to 18 months depending on the amount given in returns, daily, weekly or monthly. You never know whether you are one of the last in propping up the scheme.




Online Donation Exchanges/Stokvels

We have a dedicted page to explain the dangers of this type of HYIP (High Yield Investment Programe.) The standard HYIP does not only include a normal Ponzi Scheme by nature, but also includes the Peer to Peer donation systems offering unsustainable returns in very short time frames.

Read more…

South African Ponzi Schemes

Featuring HYIP and “Trading” Ponzis to demonstrate the dangers of these platforms whether there’s a “trader” or a “bot”, they all end up collapsing in time. The story behind BTC Global and the mechanics behind its creation as it is one of the more prominent and the first Bitcoin scam which originated in South Africa.

Read more…

Telegram Scams & Arbitrage Trading Bots

Telegram has become a quagmire of scams and trading bots. One of the very first “Get Rich Quick”schemes to appear on telegram was a platform names “Lara with Me”

Read more….

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