Old Mutual is warning the public about a highly sophisticated investment scam circulating on social media and messaging platforms such as WhatsApp.

The scam falsely uses the company’s logo as well as names and images of real employees, including senior executives and the Old Mutual Group CEO, Jurie Strijdom, to create a misleading sense of credibility.

It 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, Old Mutual notes.

Old Mutal has provided the following tips on how users can protect themselves 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 contact: service@oldmutual.com

In a statement released to the press, Old Mutual notes, "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."