Protect yourself from fraudsters

The messages they send contain similar wording and terminology to the standard communication material of the legitimate investment service providers. They also use company logos and similar images to what the investment service providers use in their marketing material.

How the investment returns scams work

Fraudsters contact individuals with the promise of quick and high returns if they invest with them. Unknowingly, individuals may fall into this trap as the communication is seemingly from a legitimate service provider.

It's important to remember that very high and quick returns, is unrealistic in the current economic climate. Unrealistic investment returns are where the returns promised far exceed the average performance of the market, for example a 100% return within 48 hours.

Always check the details of your investment with your financial adviser or your investment provider to ensure you have the best solution for your investment needs. And remember that you are under no pressure to make immediate decisions on your investment - a qualified and experienced adviser will take the necessary time to discuss your options with you.

What you need to do to protect yourself against fraud

• If you receive any WhatsApp messages that promise quick and unrealistic investment returns, please check who the sender is. If it's not from someone you know, for example, your financial adviser, please follow these steps:
  1. Open the message
  2. Tap on the contact name at the top of the screen to open their information
  3. Scroll to the bottom and tap Report contact.
  4. When you're done, please block the sender.
• Scammers are also sending out emails that make promises of investment products not offered by their service provider.
  1. Should you receive an email like this, please check the address from which it was sent. Emails from Discovery for example, always originate from an address that ends in @discovery.co.za
  2. If the email is not from this address, please block the sender and delete the mail.
• There are also fraudulent pages on social media that impersonate investment service providers.
  1. If you are contacted by a financial services provider on social media, always make sure their page has been verified before you engage with them. Verified pages have blue tick marks next to their names
  2. If you think the page might be run by scammers you can report it by clicking on the three-dot menu next to their name and selecting Report page.
• If you receive a phone call from someone who claims to work for a financial services provider, don't give them any information about your bank accounts or cards.
  1. Remember that financial service providers will never ask for your debit or credit card details. This includes the card number, CVV number and expiry date
  2. If you have been contacted by someone you suspect is a scammer, phone the Discovery Invest claim payments team on 086 033 3362 to confirm if this is a valid call and request
  3. If they claim to be calling from your bank, contact your bank's fraud department on the number provided on their website.

Always keep your personal information safe

When engaging or transacting online, it's important to be aware of online security risks and how you can safeguard your personal information online. You can read more information on these scams and how to protect yourself.

If you notice any suspicious activity, please contact your financial adviser or call us on 0860 67 57 77.