Insurance company warns of scam

Vigilance and awareness are key in the fight against online scams, the Old Mutual Group has warned following the circulation of an investment scam on messaging platforms like WhatsApp and on social media.

The scam falsely uses the names and images of real Old Mutual employees and the company’s logo to gain the trust of its victims.

A well-co-ordinated syndicate appears to be behind the scam, which presents itself as a high-return, AI-powered investment opportunity. The syndicate has already targeted several major financial institutions with the scam.

How to protect yourself from fraudsters and identity thieves:

• Check that apps you download are verified and legitimate.  
• Check and verify all requests for personal information, and only share if you are certain there is a legitimate reason to do so.
• Never share login details such as passwords or banking pins with anyone.  
• Ensure that passwords are strong, containing letters, numbers and symbols - and change them regularly.
• Use multi-factor authentication wherever possible.
• Don't share too much information on social media and use privacy settings.
• If you encounter any suspicious messages or have concerns, report it to CyberFraudWatch@oldmutual.com

The Independent on Saturday