JOHANNESBURG - January is a prime time for scammers.
As households face mounting financial pressure, fraudsters are preying on desperation and the need for a quick buck.
Fake loans, phishing messages and investment traps are on the rise.
Ethan Shirto, head of digital fraud at Standard Bank, said fraudsters are trying to take advantage of vulnerable individuals through loan scams.
"They're offering cash to get them through the end of January, and I feel like customers are in desperate situations to try and get through the month and often this is where they are targeted by these fraudsters," he said.
Shirto said loan scams are trending at this point.
"It's becoming difficult for customers to distinguish between what is real and what is a scam.
"If it looks too good to be true, it often is," he said.
"Any request for your personal or confidential information is often where the fraudster is trying to obtain credentials, so we urge our customers to never share credentials and stay vigilant."