Reserve Bank warns public about fake Kganyago WhatsApp investment group

The South African Reserve Bank (SARB) has cautioned the public against a fraudulent WhatsApp group falsely claiming to provide daily stock recommendations from Governor Lesetja Kganyago.

In a warning, the Reserve Bank clarified that Kganyago is not affiliated with the group or any WhatsApp group offering investment advice.

“This is a scam. Governor Kganyago is not affiliated with this group or any WhatsApp group offering investment advice or stock recommendations,” the SARB said.

The institution stressed that neither the Governor nor the Reserve Bank provides investment advice, stock recommendations or financial tips through WhatsApp or other platforms.

Members of the public have been urged not to join or engage with the group, click on links shared through it or disclose personal and financial information.

The warning serves as a reminder for investors to verify the authenticity of investment opportunities and be cautious of online platforms using the names of public officials to gain credibility.

The SARB urged the public to remain vigilant against scams that could expose them to financial losses or identity theft.