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Scam alert: Deputy finance minister David Masondo is not offering to fund your business

Aug 24 2019 11:32
Fin24

The Ministry of Finance has issued a warning against a new scam where con artists purporting to be deputy minister David Masondo falsely promise people funding for their businesses.

This occurs via "various platforms", the ministry said in a statement.

"The Deputy Minister of Finance would like to alert the public that he and the Ministry would never approach people and offer them financial assistance of any kind.

"In most instances, those that fall for these scams, end up later being requested to pay thousands of rands before their businesses can be assisted, leading to financial losses and stress for the victims."

Be wary of requests for personal information where an organisation should already have that information on record; any claims that one has won a prize, if one has not entered a competition; or requests for banking details of any kind.

The statement added that such scams could only succeed where the public had an "unquenchable thirst for easy wealth". 

david masondo  |  fraud  |  scam
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