Financial services company Liberty Life has issued a warning about a syndicate posing as the company’s employees to scam unsuspecting clients.
The company said it has received complaints from some of its clients who have been duped. In some cases, the fraudsters have made false promises of debt relief or credit repair, and sometimes they request upfront payments or sensitive personal information.
The insurer said such scams and schemes are an industry-wide issue that continues to plague the financial services sector.
The scammers use the name Liberty Credit Solutions, but the company does not offer any product or service with that name.
“Scamsters target the wider public via ordinary communication platforms such as emails, SMSes, WhatsApps, with the hope that an unsuspecting member of the public is attracted by the fake value proposition,” said Rehalin Chetty, head of the client and adviser service centre at Liberty.
“In some cases, the victims of scams are also coincidentally clients of legitimate insurers, banks or asset managers. This makes it easy for fraudsters and scammers as they pretend to be from well-known, reputable and trusted brands to legitimise their scams and lure the public.”
Chetty said they learnt about the latest scam through tip-offs from clients and immediately warned their clients via various communication channels, including social media.
“We take all fraud risk seriously, and our forensics team investigates each and every reported case and then report all cases to law enforcement agencies,” Chetty said.
“We also collaborate closely with industry in mitigation efforts that seek to eradicate the prevalence of fraud. While more still needs to be done in ongoing efforts to mitigate fraud risk, we are satisfied that our education and awareness efforts are bearing results and that client vigilance is becoming heightened.”
The company has warned its clients to be aware of the following:
- If an offer looks too good to be true, it probably is!
- Only trust official communication channels.
- Always verify that messages come from legitimate sources like the company website, official WhatsApp lines, or branded emails.
- Sensitive information should only be submitted through secure, verified platforms.
- Watch out for impersonators.
- Fraudsters may pose as financial advisers, executives, or even friends on social media. Always double-check identities before engaging.
- Use fraud prevention tools like Yima (meaning “stop”) that help detect and report scams. It’s available through the South African Fraud Prevention Service and is designed for public use.
- Report suspicious activity immediately. Email (fraud@liberty.co.za) to report scams anonymously
- Pause before acting on urgent requests. Scammers often pressure victims to act quickly. Take time to verify before clicking links or making payments.
- Don’t rely on caller ID or email display names. These can be spoofed. Always verify contact details independently.
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