Stanbic IBTC launches anti-scam campaign to protect fund holders

Stanbic IBTC Asset Management has adopted measures to safeguard customers from an alarming rise in scam attempts targeting mutual fund holders.

In response to this trend, the company has launched a campaign to educate customers on protecting their investments and understanding the correct procedures for mutual fund subscriptions.

Recently, enquiries about the authenticity of mutual fund subscription messages have surged. Many of these messages contain differing and potentially incorrect account numbers, leading to confusion and concern among investors. In response, Stanbic IBTC Asset Management launched a campaign to educate customers by providing information and security tips to reduce the likelihood of clients falling prey to scam attacks.

The campaign has established three main objectives: first, to educate customers about the mutual fund subscription process by providing information that empowers them to make informed decisions. Second, it aims to ensure that customers verify the payment accounts for any Stanbic IBTC mutual fund investments, encouraging due diligence in confirming the legitimacy of financial communications.

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Lastly, the campaign seeks to raise awareness of scam attempts that may mislead customers into using incorrect account details, highlighting the tactics used by scammers to keep customers informed and vigilant.

Busola Jejelowo, the Chief Executive of Stanbic IBTC Asset Management, recently addressed the importance of a new initiative to safeguard customers in an increasingly complex financial landscape.

The initiative emphasises the need for awareness and vigilance, particularly concerning suspicious communications. Stanbic IBTC Asset Management strongly encouraged all customers to be cautious and verify any unexpected requests for fund transfers, especially if they send money to unlisted account numbers. This proactive approach is crucial in preventing potential fraud and protecting assets.

In addition, the company has made it clear that customers should not hesitate to contact the support team directly with any concerns, questions, or suspicions regarding communications or transactions.

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