Scammer Arrests, Spar Lawsuit and Nedbank Exit Mark Busy Week in SA Business and Governance
In this week's tech news roundup, South African authorities this week arrested dozens of suspected international investment scammers in Johannesburg, while major corporate and government developments unfolded elsewhere. Retailer Spar confirmed it is facing a R168.7 million lawsuit from a major franchisee over a failed SAP system rollout, as Home Affairs welcomed a court challenge to its sharp increase in identity verification fees.
Six alleged bogus investment scammers, together with 25 call centre agents, arrested for contravening the Financial Advisory and Intermediary Services Act.
An Interpol-coordinated operation sees the arrest of 1 209 suspected cyber criminals that targeted nearly 88 000 victims.
An online Ponzi scheme defrauded citizens out of their hard-earned savings, with individual losses ranging from R1 300 to nearly R600 000.
A growing share of reported crimes in Africa is cyber-related, according to INTERPOL’s 2025 Africa Cyberthreat Assessment Report.
The impostor accounts have been used to solicit fees from individuals under the false promise of providing access to funding.
The Southern African Fraud Prevention Service’s Yima portal will make it easier for consumers to prevent fraud and scams.
Authorities in the US, where the investigation originated and most victims are based, apply for his extradition.
BlacqMarket expands its business model to encompass a classifieds service and adds a security feature to fight online scams.
Sabric warns consumers that cyber criminals are exploiting the coronavirus outbreak to spread an array of online scams.
A US-based government agency lists Internet- or e-mail-based scams that people fall for.
Increased online advertising creates swindling opportunities; it's up to consumers to be vigilant, says Kalahari Ads.
In this World Wide Wrap: Online banking fraud up 185%, Industrial Bank's e-business booms, and Wells Fargo unveils vSafe.