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IOL News
22-07-2025
- Business
- IOL News
Scammer targets Durban seafood business; owner loses thousands to online fraud
In a shocking incident that underscores the rising tide of online scams, a Durban-based seafood business has suffered a considerable loss of R6,492 at the hands of a cunning fraudster this past weekend. The owner, who remains unnamed, reported the incident to Reaction Unit South Africa (RUSA) after discovering that several Electronic Fund Transfers (EFT) for seafood orders had failed to reflect in their account. The ordeal began on Friday when the scammer made contact with the business through WhatsApp, placing a sizable order that included seafood boil, prawn platters, and an assortment of frozen seafood. To validate the transaction, the fraudster provided what appeared to be a convincing proof of payment from First National Bank (FNB). Believing the payment to be genuine, the business owner prepared the order, which was subsequently collected by an E-Hailing driver. The following day, the scammer placed a second order worth R4,300.00. However, the owner's instinct kicked in, and they requested an instant payment before releasing the goods. The scammer again sent a fraudulent proof of payment, but this time, the owner was wary. Upon contacting their bank for verification, they were informed that the payments had never been made, marking the moment the owner realised they had been scammed. In a twist of deception, the scammer persistently contacted the owner afterwards, falsely claiming that the payment had been successful. This individual, described as an Indian male, is just one among many con artists employing similar tactics to exploit small business owners. The modus operandi of these scammers often involves recruiting unsuspecting E-Hailing drivers to collect goods. After providing drivers with an address and directing them to leave the products in unsecured locations, the con artists promptly pay them through cash transfer services while creating an elaborate web of deceit that complicates the recovery of stolen goods. Scams like this are proliferating, particularly on platforms like Facebook Marketplace, where sellers are pressured into swift transactions without confirming the legitimacy of a payment. 'Buyers often target sellers during banking hours or intend to verify payments in a limited timeframe, making it ripe for unscrupulous tactics,' warned a RUSA spokesperson. In light of this incident, the public is urged to exercise due diligence by verifying all bank deposits prior to releasing any goods, especially during online transactions. As these scams continue to evolve, taking precautionary steps can help guard against future fraud.
Business Insider
12-07-2025
- Business
- Business Insider
Positive Report for Sumitomo Electric Industries (SMTOF) from Goldman Sachs
Goldman Sachs analyst Ryo Harada upgraded Sumitomo Electric Industries to a Buy on July 8 and set a price target of Yen4,300.00. The company's shares closed last Wednesday at $21.91. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Harada is a 4-star analyst with an average return of 18.3% and a 71.43% success rate. Harada covers the Industrials sector, focusing on stocks such as Furukawa Electric Co, Fujikura Ltd, and Hitachi,Ltd.. Sumitomo Electric Industries has an analyst consensus of Moderate Buy, with a price target consensus of $20.49.
Business Insider
12-07-2025
- Business
- Business Insider
Kepler Capital Keeps Their Buy Rating on Barry Callebaut AG (BARN)
Kepler Capital analyst Torsten Sauter maintained a Buy rating on Barry Callebaut AG on July 10 and set a price target of CHF1,300.00. The company's shares closed yesterday at CHF837.00. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Sauter covers the Industrials sector, focusing on stocks such as Daetwyler Holding, Bystronic, and Komax Holding AG. According to TipRanks, Sauter has an average return of 5.8% and a 54.37% success rate on recommended stocks. Barry Callebaut AG has an analyst consensus of Moderate Buy, with a price target consensus of CHF1,016.20. The company has a one-year high of CHF1,607.00 and a one-year low of CHF707.50. Currently, Barry Callebaut AG has an average volume of 23.15K.
Business Insider
09-07-2025
- Business
- Business Insider
Jefferies Reaffirms Their Buy Rating on Sumitomo Dainippon Pharma Co (DNPUF)
In a report released today, Stephen Barker from Jefferies maintained a Buy rating on Sumitomo Dainippon Pharma Co, with a price target of Yen1,300.00. The company's shares closed yesterday at $6.34. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Barker is a 3-star analyst with an average return of 2.9% and a 47.06% success rate. Barker covers the Healthcare sector, focusing on stocks such as Sumitomo Dainippon Pharma Co, Astellas Pharma, and Asahi Intecc Co. The word on The Street in general, suggests a Hold analyst consensus rating for Sumitomo Dainippon Pharma Co with a $5.93 average price target.
Business Insider
09-07-2025
- Automotive
- Business Insider
HSBC Sticks to Its Buy Rating for Hyundai Motor India Limited (HYUNDAI)
In a report released today, Yogesh Aggarwal from HSBC maintained a Buy rating on Hyundai Motor India Limited, with a price target of INR2,300.00. The company's shares closed today at INR2,055.10. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Aggarwal is a 4-star analyst with an average return of 12.2% and an 82.76% success rate. Aggarwal covers the Technology sector, focusing on stocks such as Cyient Limited, Infosys Limited, and KPIT Technologies Limited. Hyundai Motor India Limited has an analyst consensus of Moderate Buy, with a price target consensus of INR2,000.00.
