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There has been a concerning increase in a particular type of scam targeting unsuspecting individuals
in which their bank accounts are exploited.
HOW THE SCAM WORKS:
Initial Contact:
Scammers typically reach out to you with an enticing offer to help you "trade" on platforms dealing with FX, Bitcoin, shares, or commodities.
They often claim they can make significant profits for you quickly.
False Incentives:
To gain your trust, these fraudsters may deposit a substantial amount of money into your bank account, such as R10,000 or more, intended to prove their legitimacy.
The Catch:
Once you wish to withdraw your "profits," they request a fee of $500 or more.
Then, the scam intensifies.
As soon as you begin paying, the demand for more money will commence. These demands do not stop.
The Second Stage:
When you cannot pay the fees, they propose an alternative – you are expected to earn the money through more "trading."
At this point, they request to use your personal bank account to receive and send funds on behalf of your trading account.
They encourage you to open multiple accounts at different banks.
HIDDEN DANGER:
The core issue is that the funds moving through your account are not legitimate earnings.
They are the proceeds of the scammers' fraudulent activities, extracted from other victims who fell for the initial stage of the scam.
By allowing your account to be used in this manner, you become part of their money laundering scheme, whether or not you are aware of it.
TARGET MARKET:
VULNERABLE INDIVIDUALS:
Scammers primarily target people looking to build a nest egg or safety net for retirement or those seeking an alternative income.
Their schemes are designed to exploit the hopes and financial aspirations of individuals planning for future security.
THE RISKS:
Legal Consequences:
Even if you were unaware of the scam, you could face severe legal repercussions for participating in money laundering activities.
Financial Loss:
Once the scam is exposed, authorities may reclaim any money passed through your account, leaving you with a significant financial loss.
Identity Theft:
When scammers have access to your bank details, you are at risk of identity theft.
This may lead to further financial and personal harm.
SAFETY MEASURES:
Never Share Your Bank Details:
Do not, under any circumstances, share your personal bank account details with anyone, especially those you have never met in person.
Be Sceptical of Unrealistic Offers:
If something sounds too good to be true, it probably is.
High returns with little to no risk are classic signs of a scam.
Report Suspicious Activity:
If you suspect such scammers have targeted you, immediately report the activity to your bank and local authorities.
Contact for Assistance:
If you have been a victim of this type of crime, please contact Mr Bolhuis directly.
Use Secure Payment Methods:
Opt for secure platforms like PayPal, EFT (Electronic Funds Transfer), or other trusted services where minimal information is required, such as your email address or phone number.
Provide Limited Information:
If a bank transfer is necessary, only share your account number and branch code—never disclose passwords, PINs, or other sensitive details.
Verify the Person:
Always verify the identity of the person you’re dealing with.
If possible, meet in person or use a trusted intermediary to facilitate the transaction.
A recorded video call is always a good option.
Use Payment Protection:
Choose platforms offering payment protection services, ensuring you receive the payment before exchanging goods or services.
PLATFORMS THAT OFFER PAYMENT PROTECTION SERVICES:
PayPal:
PayPal’s Buyer and Seller Protection programs ensure that both parties are protected in case of disputes.
The platform holds the payment until the transaction is completed satisfactorily.
This service acts as a neutral third party that holds the funds until both the buyer and seller fulfil their obligations.
It is commonly used for high-value transactions.
Alipay:
Often used in international transactions, Alipay holds funds in escrow until the buyer confirms receipt of goods or services, ensuring a secure transaction for both parties.
PayFast (South Africa):
PayFast offers a similar service within South Africa, where funds are held securely until the transaction is completed, providing peace of mind for both buyers and sellers.
These platforms help minimise the risk of fraud by ensuring that payments are only released
once both parties are satisfied with the transaction.
Your personal bank account is a crucial part of your financial security. Protect it diligently.
Never let anyone, particularly strangers, use it for their transactions.
Stay vigilant and safeguard your financial well-being against these malicious scams.
Specialised Security Services invites the public to the Mike Bolhuis Daily Projects WhatsApp Group.
This group is important in delivering insights into the latest crime trends, awareness, warnings and the exposure of criminals.
HOW TO JOIN THE MIKE BOLHUIS DAILY PROJECTS WHATSAPP GROUP:
Follow the link to our WhatsApp group:
"JOIN" to ensure you never miss our daily updates.
You will receive automatic notifications as soon as a new project is posted.
CONTACT MR MIKE BOLHUIS FOR SAFETY AND SECURITY MEASURES, PROTECTION, OR AN INVESTIGATION IF NEEDED.
ALL INFORMATION RECEIVED WILL BE TREATED IN THE STRICTEST CONFIDENTIALITY AND EVERY IDENTITY WILL BE PROTECTED.
Regards,
Mike Bolhuis
Specialist Investigators into
Serious Violent, Serious Economic Crimes & Serious Cybercrimes
PSIRA Reg. 1590364/421949
Mobile: +27 82 447 6116
E-mail: mike@mikebolhuis.co.za
Fax: 086 585 4924
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EXTREMELY IMPORTANT: All potential clients need to be aware that owing to the nature of our work as specialist investigators there are people who have been caught on the wrong side of the law - who are trying to discredit me - Mike Bolhuis and my organisation Specialised Security Services - to get themselves off the hook. This retaliation happens on social media and creates doubt about our integrity and ability. Doubt created on social media platforms is both unwarranted and untrue. We strongly recommend that you make up your minds concerning me and our organisation only after considering all the factual information - to the exclusion of hearsay and assumptions. Furthermore, you are welcome to address your concerns directly with me should you still be unsatisfied with your conclusions. While the internet provides a lot of valuable information, it is also a platform that distributes a lot of false information. The distribution of false information, fake news, slander and hate speech constitutes a crime that can be prosecuted by law. Your own research discretion and discernment are imperative when choosing what and what not to believe.
STANDARD RULES APPLY: Upon appointment, we require a formal mandate with detailed instructions. Please take note that should you not make use of our services – you may not under any circumstance use my name or the name of my organisation as a means to achieve whatever end.
POPI ACT 4 of 2013 South Africa: Mike Bolhuis' "Specialised Security Services" falls under Section 6 of the act. Read more here: https://mikebh.link/fntdpv
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Mike Bolhuis Specialised Security Services
PO Box 15075 Lynn East
Pretoria, Gauteng 0039
South Africa
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