Kaspersky has issued a warning to South African users 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.
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.
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,” comments 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.”