Anglo American reports rise in online trading scams

The firm sees an increase in online share trading scams circulating on various social media and digital platforms.

Some of the scams circulating on social media bear Anglo American ’s branding and names of its executives.

In a statement, the company says scammers are taking advantage of unsuspecting people by promoting fake trading platforms and offering unrealistic returns on investments.It notes that such platforms tend to be well designed apps and websites that are extremely sophisticated. However, it warns, no company will ever trade in shares directly with the public.in this way.

“We’ve seen several fake videos on social media using artificial intelligence, and posts encouraging people to invest their hard-earned money. These posts then get shared by unsuspecting people on platforms such as WhatsApp, making them hard to trace and stop.

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