Johannesburg, 15 April 2025: Old Mutual is warning the public about a highly sophisticated investment scam currently circulating on social media and messaging platforms such as WhatsApp.
The scam falsely uses the names and images of real employees and the company’s logo to create a misleading sense of credibility.
The scam is positioned as a high-return, AI-powered investment opportunity and seems to be driven by a well-coordinated syndicate. The syndicate has already targeted several major financial institutions with this scam.
How to protect yourself from fraudsters and identity thieves:
• Check that the apps you download from the App store are verified and legitimate.
• Check and verify all requests for personal information and only share information when you are 100% sure there is a legitimate reason to do so.
• Never share login details such as passwords or banking pins with anyone. Remember Old Mutual will never contact you to ask for your username or password.
• Always use a strong password that contains letters, numbers and symbols and change it regularly.
• Apply multi-factor authentication on all accounts, where possible.
• Do not share too much information about your life on social media and use privacy settings.
• If you encounter any suspicious messages or have concerns, please report it to CyberFraudWatch@oldmutual.com
We take the protection of all customer information seriously as we continually review and strengthen our security controls. Vigilance and awareness are key in the fight against this form of crime. We encourage you to remain alert.
