Kaspersky warns users across South Africa about a wave of fake investment platforms that exploit the popularity of online trading and digital investment services. Since 2024, Kaspersky solutions have blocked more than 27,000 phishing scams imitating investment platforms in South Africa. If successful, such attacks give cybercriminals access to credit card details and other sensitive information, exposing personal data to criminal misuse.
Why these platforms are dangerous
At first glance, fake investment platforms can appear completely legitimate, featuring dashboards, trading charts, and even customer support chats. Victims are often approached through social media, messaging apps, or unsolicited phone calls, where scammers pose as investment advisors promising quick and high returns. Once users are persuaded to deposit money, the platforms mimic legitimate trading operations and display rising profits to appear credible, although no real trading takes place.
Examples of a fake investment platform designed to mimic a legitimate trading website.
Installing fake applications or clicking on phishing links carries additional risks such as exposing personal data, payment credentials, and login details. This information can be exploited for identity fraud, data breaches, or used in further attacks compromising users’ devices and accounts.
“Online scams have become increasingly sophisticated as cybercriminals invest significant effort into making them look authentic,” commented Olga Altukhova, Senior Web Content Analyst at Kaspersky. “They rely on trust as their way in, using every tool available, whether it’s advanced technologies like Artificial Intelligence or professional designs that mirror real investment sites. This growing sophistication makes it increasingly difficult to tell fake from real. The key takeaway is to pay attention to basic details such as the website domain, spelling errors, payment methods and signs of secure encryption before sharing any data or investing money.”
How to stay safe online
Kaspersky experts advise users to stay alert when receiving investment offers through email, social media, or messaging apps. To help users avoid falling victim to these scams, the company recommends the following best practices:
- Always choose legitimate, highly trusted investment platforms that are licensed and recognised for their credibility.
- Never share personal or banking information with unverified individuals or websites - and double-check web addresses or app sources to ensure they are genuine.
- Be cautious of promises of guaranteed returns or ‘limited time’ offers. Scammers often use pressure tactics to push victims into investing quickly.
- Research before investing and only use platforms or currencies you fully understand and confirm they’re properly licensed and compliant.
- Use strong, unique passwords, enable two-factor authentication, and keep your apps and operating systems full updated from official sources.
- Use a trusted cybersecurity solution with anti-phishing protection and carefully check any website before entering personal or financial details. A comprehensive solution such as Kaspersky Premium can help with this by blocking access to or malicious websites on both computers and mobile devices.
