Standard Bank has alerted its clients to a fraudulent WhatsApp group circulating on social media, falsely claiming to be associated with the bank’s services.
In an email sent to clients, Standard Bank Online Share Trading advised individuals to remain vigilant against potential security threats. "We are committed to making sure your trading and investing experiences are secure and seamless. However, it’s also essential for us to stay alert to possible risks," the bank stated.
The warning came after a fake WhatsApp group began spreading, falsely linking itself to an investment app called SBG SI Trader.
The app misrepresents connections with Standard Bank, SBG Securities, and other related platforms, including the SBG Securities Online Share Trading service.
The group also erroneously refers to the bank’s Financial Sector Conduct Authority operating license.
Standard Bank emphasised that this information is fraudulent and urged clients to be cautious to avoid falling victim to phishing, cybercrime, or unauthorised access.
“We advise you to remain cautious of any communications via social media, email, or phone - whether through WhatsApp or SMS - that request your personal information,” the email advised.
The bank clarified that it will never ask clients for sensitive information like passwords, OTP PINs, or bank card PINs via any form of communication.
To help protect against fraud, identity theft, or financial loss, Standard Bank offered several safety tips:
– Always log out of your trading account after using it.
– Avoid accessing your trading account through public Wi-Fi or unsecured internet services.
– Never click on unsolicited links asking you to update your details.
– Be cautious about following unknown links.
– Never share personal or trading account information on public platforms or with others.
As fraud and cybercrime become more common, the bank encouraged clients to report any suspicious activities to the Anti-Fraud and Security department at 0800 222 050 or forward phishing scams to [email protected]