Anglo American scam warning 

Anglo American has warned South Africans to be wary of an increase in online share trading scams circulating on various social media and digital platforms.

The mining giant said it had noticed an increase in online share trading scams using fictitious company brand identities and the names of some of its executives to lure unsuspecting victims.

“Scammers are taking advantage of unsuspecting people by promoting fake trading platforms and offering unrealistic returns on investments,” the company said. 

“Such platforms tend to be well-designed apps and websites that are extremely sophisticated. However, no company will ever trade in shares directly with the public in this way.”

Nevashnee Naicker, the Executive Head of External Relations at Anglo American in South Africa, urged the public to exercise caution when interacting with emails and social media platforms.

“Scammers often use faces of prominent business leaders in fraudulent recruitment, procurement and share trading, resulting in many people falling victims,” she said. 

“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.”  

She warned South Africans not to respond to unsolicited offers through emails and social media advertisements with links. “Anglo American will never ask anyone to invest in this way,” she said.

She added that online scams affect everyone and Anglo American is increasing its efforts to raise awareness about the risks and tactics used by cybercriminals to defraud individuals and organizations online.

Anglo American encouraged 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,” Naicker said. “Remember, if an offer seems too good to be true, it probably is.”