Cape Town - The Ministry of Finance has warned of a scam being purported in the name of Deputy Minister of Finance Dr David Masondo.
In a statement from national treasury, it warns against the scam being run on various platforms, promising people funding for their businesses.
"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 being requested to later pay thousands of rand before
their businesses can be assisted, leading to financial loss and stress for the victims."
The ministry reiterated that such scams can only succeed to the extent that members of the public have an unquenchable thirst for easy wealth.