Mining giant Anglo American is warning members of the public that it has noted an increase in online share trading scams circulating on various social media and digital platforms.
These use a fictitious company brand identity and names of some of its executives to lure unsuspecting victims.
In a statement, the company says scammers are taking advantage of unsuspecting people by promoting fake trading platforms and offering unrealistic returns on investments.
It notes that such platforms tend to be well designed apps and websites that are extremely sophisticated. However, it warns, no company will ever trade in shares directly with the public.in this way.
Nevashnee Naicker, executive head of external relations at Anglo American in South Africa, is calling on members of the public to exercise caution when interacting with e-mails and on social media platforms.
“Scammers often use the faces of prominent business leaders in fraudulent recruitment, procurement and share trading, resulting in many people falling victim,” says Naicker.
“We’ve seen several fake videos on social media using artificial intelligence, and posts encouraging people to invest their hard-earned money. These posts then get shared by unsuspecting people on platforms such as WhatsApp, making them hard to trace and stop.
“Do not respond to unsolicited offers through e-mails and social media advertisements with links. Anglo American will never ask anyone to invest in this way,” she adds.
Anglo American says it is increasing its efforts to raise awareness about the risks and tactics used by cyber criminals to defraud individuals and organisations online.
The mining firm encourages members of the public to report any suspicious activity to the relevant authorities.
“Your diligence in reporting suspicious activity and remaining cautious will help protect you from potential harm and financial loss,” adds Naicker. “Remember, if an offer seems too good to be true, it probably is.”
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