Financial services group Stanbic IBTC has alerted the public to fraudulent investment advertisements circulating across social media and digital platforms, warning that the promotions falsely claim affiliation with the company and its executives.
In a public notice, Stanbic IBTC said the deceptive advertisements feature the image of the Chief Executive of Stanbic IBTC Asset Management Limited alongside the Stanbic IBTC Stockbrokers logo and invite members of the public to join WhatsApp groups purportedly offering investment opportunities with guaranteed returns from “high-quality stocks.”
The company described the advertisements as false, misleading and unauthorized, stressing that they were neither created nor approved by Stanbic IBTC Holdings Plc or any of its subsidiaries.
According to the financial institution, fraudsters are illegally using the company’s name, logo, brand identity and the images of its executives in an attempt to deceive unsuspecting members of the public into parting with money or disclosing sensitive personal and financial information.
“These advertisements are false, misleading, and unauthorised. They do not originate from Stanbic IBTC Holdings PLC or any of its subsidiaries, and they have not been approved, endorsed, or issued by the Group in any form,” the company said.
Stanbic IBTC noted that the matter has been formally reported to the Securities and Exchange Commission (SEC) for regulatory attention.
The company further urged members of the public to remain vigilant and avoid investment offers that promise guaranteed returns, a common red flag associated with investment scams and fraudulent schemes.
It further advised individuals who may have responded to the advertisements, transferred funds, or shared personal or financial information with the operators of the schemes to immediately report the matter to the nearest law enforcement agency.
