Financial scammers elude the law- experts

Fern
Fern

Consumer Watchdog Botswana has accused government for failing to protect consumers against financial scams such as pyramid schemes and multi level marketing.

Speaking at a breakfast seminar hosted by the Association of Botswana Financial Advisers (ABFA), Richard Harriman of Consumer Watchdog said without proper laws in the country, consumers continue to be exposed to fraudsters on the prowl.

Harriman said that many gullible Batswana are being hoodwinked into joining scams that promise them high returns while in actual fact they are fraudulent schemes.

Editor's Comment
Botswana at a critical juncture

While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...

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