Rising number of Ponzi schemes worries police Assistant Commissioner Paul Nyathi

Judge Jarachara, Chronicle Reporter
Police have expressed concern at the increasing number of people falling victims to fraudsters purporting to be selling forex or running investment schemes.

National police spokesperson Assistant Commissioner Paul Nyathi urged members of the public to be vigilant to avoid falling victims to these fraudsters.

“Cases of people being duped of their money are now rampant. This issue of cyber fraud is on the increase hence the need for people to be vigilant. An increasing number of people are losing their hard-earned money to these criminals,” said Asst Comm Nyathi.

He said three Bulawayo residents were duped of a total of $27 900 on separate occasions after they sent money via EcoCash to someone purporting to be selling US$.

The three, Asst Comm Nyathi said, had received a message from a fraudster in a WhatsApp group offering US$.

He said after the transaction, they discovered that the fraudster’s number was no longer working.

“This type of fraud is not unique to Bulawayo alone but all over Zimbabwe. In Bindura and Chinhoyi some people were duped after having been persuaded to join a WhatsApp group where they were promised to get lots of money in US$ as profits from an investment.

“They were asked to deposit money in local currency. Just after sending the money, they immediately got blocked,” said Asst Comm Nyathi.

He urged members of the public to be careful when dealing with people on social media.

Asst Comm Nyathi said members of the pubic should deal with established financial institutions to avoid the risk of losing money to fraudsters.

In February, more than 400 people besieged Mvuma Police Station baying for the blood of a 60-year-old woman who initiated a pyramid scheme that collapsed and prejudiced them of more than US$80 000.-@jdgjarachara

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