Whatsapp Gifting Group Scam: Pyramid Scheme
The Whatsapp Stokvel scam that ripped off victims last year is now called Whatsapp Gifting Group. Although the name has changed, it is still the same scam where members are expected to pay up to R200 and hope to receive great returns on their so-called "investment" in less than two weeks. Victims of Stokvel said after joining the group and making their payment, the group administrator disappeared with their money.
The Whatsapp Gifting Group Scam
What is Stokvel?
A Stokvel, derived from "stock fair", is a savings scheme where a group of people come together to save and invest together. Stokvels are based on trust where members in the group know each other, and the terms of payout have already been set.
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