Financial services firm Old Mutual has warned customers and the public about a sophisticated investment scam that impersonates senior executives from the group in an attempt to defraud unsuspecting victims.
In a statement, the company says fraudsters are circulating fake investment opportunities across social media platforms, messaging applications and e-mail channels, falsely using the names of Old Mutual executives to create credibility.
According to the insurer, the latest scam impersonates Old Mutual Group COO Zureida Ebrahim and presents itself as “a proposal for a mutually-beneficial opportunity”.
Old Mutual says the campaign appears to be orchestrated by “a well-coordinated syndicate”.
KNOW MORE
For deeper insights into modern cyber defence strategies, register for ITWeb Security Summit Cape Town 2026 or ITWeb Security Summit 2026 in Johannesburg. These annual gatherings bring together leading local and international experts to discuss the threats, technologies and strategies shaping the future of cyber security.
The company urges customers to remain vigilant, as cyber criminals increasingly exploit trusted corporate brands and executives to lure victims into fraudulent investment schemes.
Among the warning signs highlighted by Old Mutual are suspicious sender e-mail addresses, unusual language or tone in communications, urgent requests involving money or sensitive information, as well as suspicious links and attachments.
“Don’t rely solely on the display name. Look closely for subtle misspellings such as ‘Oldrnutual’ instead of Old Mutual,” the company says.
It also advises customers not to respond to suspicious messages or click on unfamiliar links and attachments.
“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.”
The company further encourages users to strengthen their online security by using strong passwords, changing them regularly and enabling multi-factor authentication wherever possible.
Old Mutual has requested that customers report suspicious communication linked to the scam to its cyber fraud monitoring team via the following e-mail: CyberFraudWatch@oldmutual.com.
The warning comes amid a rise in digital fraud and impersonation scams targeting South African consumers and businesses. Cyber criminals are increasingly leveraging trusted brands and executives to manipulate victims into disclosing sensitive information or making fraudulent payments.
Share
