Money-flipping scams have ripped off many local investors through social networks like Facebook, Twitter and Instagram. About 71% of Instagram’s 1bn daily users are younger than 35, making the social network an increasingly popular playground for scammers wishing to target millennials.
They is a new Forex Trading scammer that is going around on Social media by using the Xolani Stayela Sishi account. Viewers navigating through their Facebook profiles have complained about seeing a fake advertisement indicating that Xolani Stayela Sishi has found a new way to generate money.
Here is how its work, He asked people to deposit money via Bank(Example: Capitec,FNB and STD Bank you can deposit R2700 and promise you return of R14700 in 7 hours). After you sent him the money, he will respond to you with a Western Unoin voucher and tell you add R3000 for charges with a return of R80 000 because it will expire within an hour after that he blocked you and continue to someone else.
Fake Celeb Post
He is using local celebrities Photoshop twittets to convince people that he is legit with the likes of Black Coffee, AKA and Bonang.