Mmm global south africa
Bonang pulls a Kim Kardashian in tight red dress. Independent Media and affiliated companies. All rights reserved. But the problem, say police, is that participants in the MMM scheme are unwilling to come forward. "An enquiry was opened and efforts to get statements from affected investors drew a blank," explains Hawks spokesman Hangwani Mulaudzi. The Hawks, he said, have had successes in catching cyber-criminals using virtual currencies. Johannesburg - Promises of 30 percent returns and a new world order - it's MMM reloaded with a new currency that will make it even harder for law enforcement to catch the kingpins and fight cyber-crime. "They're using it because it is very difficult to trace. You try and follow the money trail and it disappears into cyberspace," says Danny Myburgh, a cyber-crime investigator. "Due to the recent sharp price fluctuations of Bitcoin, MAVRO-BTC is being introduced in the System," read a January 8 post on its Facebook page. Ten days later, in an updated post, its programmers announced they were introducing the New Model, and this was why members were battling to log on. Participants in the scheme have broken the law and are reluctant to approach the police even after they have lost money. MMM claims that its goal is not just to make money but to fight the unjust financial system. Myburgh, however, adds that while it might be preferred by international criminals, Bitcoins are traded by legitimate users and accepted by more and more retailers. MMM's Bitcoin comeback Share this article with a friend. In 2011 MMM Global was launched, and began targeting third world countries, in particular. "The only way you can tackle this is through international co-operation and the new Cyber Crimes and Cybersecurity Bill will help with this," said Myburgh. This is why they are opposed to the media, resorting to writing fake news stories. "Now, you have a chance to have 30 percent growth of the Bitcoin amount, not the rand amount. Those who invest in the scheme are often aware that it is a pyramid scheme and that they can lose their money, she points out. Meanwhile, as MMM continues its relaunch, some of its members are demanding payment on the old currency the scheme used. But it's the use of Bitcoin, which has become the currency of choice for international cyber-criminals, that has investigators worried. This week an alleged "MMM number 1 guider" in Nigeria, Chuddy Ugorji, and his wife, Amaka, reportedly fled the country after he released new conditions for payment to about three million investors. The Department of Justice published the Bill this week. "The more astute investors know that if they get in early they are able to generate good money, but it is important to keep the story going so more people join.". "You combine this with the Dark Web and it's impossible to trace.". The Hawks are investigating MMM after the National Consumer Commission conducted its own investigation, and passed its findings on to the police.