The Financial Sector Conduct Authority (FSCA) has issued a warning to the public against engaging with fraudulent WhatsApp accounts impersonating STANLIB.
The scammers, operating under the name “Stanlib WhatsApp Investment Group” and an individual named Mzwandile Ngcobo (WhatsApp: 069 162 7744), falsely claim association with the financial institution.
STANLIB has confirmed to the FSCA that these accounts are not affiliated with the company.
The FSCA urges consumers to always verify whether a financial service provider is authorised before conducting any transactions. To check legitimacy, use one of these methods:
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Call the FSCA toll-free: 0800 110 443
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Search for regulated entities online: FSCA Regulated Entities List
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Verify authorised FSPs under FAIS Act: FSCA FSP Search
Stay vigilant against investment scams and report suspicious activity to the FSCA immediately.
