JOHANNESBURG - The latest World of Deceit Report by the Global Initiative Against Transnational Organised Crime shows that scams are becoming increasingly sophisticated and widespread.
The report highlights a rapid rise in organised scam networks, which generate trillions of dollars globally each year.
In South Africa alone, financial losses are estimated at around R5.2-billion.
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However, security strategist and former Interpol Ambassador Andy Mashaile believes the true figure could be much higher.
He says many victims do not report scams to police, and in some cases, the financial impact only becomes clear months -- even up to a year -- later.
The report also reveals that so-called “scam centres” can operate from a range of locations, including apartments, call centres and even prisons.
These operations are powered by artificial intelligence, stolen data and global money-laundering networks.
Experts warn that South Africa risks becoming not only a target for scams, but also part of the global scam ecosystem.
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Mashaile says some of these operations have been uncovered in affluent areas such as Rivonia and Morningside, while certain nightlife venues have also been flagged.
"South Africa is emerging as an easy harvest ground for the shenanigans," he says.
"South Africa is now featuring on the international ranks of countries that are seemingly problematic with regard to using the digital space for money laundering," he adds.
Cryptocurrency-related scams have also been on the rise in recent years.
Despite this, Mashaile has praised the police for establishing a cybercrime unit and increasing resources to tackle these crimes.
He says authorities have the capacity to act effectively, but must do so decisively.
"We have the capacity to wield effective power, reducing these scams and also closing down some of the foreign nationals operating with impunity and scamming people in our country," he says.
At the same time, he urges the public to play their part by reporting incidents, as underreporting continues to hinder efforts to combat scams.