Tuesday, 13 October 2026 ⚠️ Real Incident

Reserve Bank Warns of Fake WhatsApp Group Using Governor's Name

The South African Reserve Bank has warned the public about a fake WhatsApp group using Governor Lesetja Kganyago's name to offer stock advice. Officials confirmed that neither the Reserve Bank nor the Governor offers investment advice on WhatsApp.

What happened

Scammers set up a WhatsApp chat group pretending to represent Reserve Bank Governor Lesetja Kganyago. The group claims to share daily stock recommendations and investment tips with members. The South African Reserve Bank alerted citizens that this channel is entirely fraudulent.

How it worked

Scammers create a WhatsApp group using the name of the Reserve Bank Governor to gain trust. They promise daily stock picks and investment advice to attract members. They then encourage people to click related links or share personal and financial information.

How to protect yourself

• Do not join or engage with WhatsApp groups offering investment advice or stock recommendations.
• Never click on links shared by unauthorized messaging groups.
• Do not share personal or financial information on WhatsApp or social media platforms.

Source: South African Government News Agency