What To Know About Online Scams

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ANC veteran Tokyo Sexwale has ruffled feathers, after claiming that billions of rands have been stolen from the Heritage Fund. During an interview with eNCA, the ANC veteran said that money from the Heritage Fund meant to assist poor students with free education and fight against the Covid-19 pandemic among other uses was stolen. The National Treasury and the South African Reserve Bank have both received correspondence from Sexwale and several others, alleging the billions of rands were stolen from a fund, referenced as the ‘White Spiritual Boy Trust’, and was set up by a foreign donor. How is it that someone like Tokyo Sexwale fell victim to such a large-scale scam?

Guest: Chairperson of the South African Banking Risk Information Centre (Sabric), Nischal Mewalall.


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