Old Mutual has alerted the public to a highly sophisticated investment scam circulating on social‑media and messaging platforms, notably WhatsApp, that falsely claims affiliation with the insurer.
The scheme promises high returns from an “AI‑powered” investment and uses Old Mutual’s logo along with the names and photographs of real employees, including senior executives and group chief executive Jurie Strijdom, to create a veneer of credibility.
According to Old Mutual, the fraud appears to be run by a well‑coordinated syndicate that has already targeted several major financial institutions.
The insurer urges customers to download only verified apps from trusted stores and never to share login credentials, passwords, or banking PINs, stressing that Old Mutual will never request such details.
“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,” it concludes.
