JSE Warns Public of Deep Fake Scam Featuring CEO Leila Fourie

Fake investment videos circulate online as scammers use AI to target South Africans

The Johannesburg Stock Exchange (JSE) has issued an urgent warning after deep fake videos featuring its CEO Leila Fourie and executive Mark Randall began circulating on Facebook and other platforms. These AI-generated videos, which falsely portray the executives endorsing fraudulent investment opportunities, are part of a growing wave of financial scams plaguing South Africa’s digital space.

In a statement released this week, the JSE made it clear: these videos are fake, unauthorized, and dangerous. They are designed to deceive unsuspecting viewers into handing over money or personal details, under the false impression that they are investing through South Africa’s premier stock exchange.

No Investment Advice from the JSE, Ever

The JSE emphasized that none of its employees, including top executives, provide investment advice — especially not through social media. Moreover, the JSE does not operate or endorse any WhatsApp or Telegram investment groups, despite numerous fraudulent groups bearing the JSE logo or name.

“The only way to invest on the JSE is through an authorised JSE member or broker,” the exchange stressed.

Unfortunately, scammers are leveraging the credibility of household names and institutions like the JSE to add a false sense of legitimacy to their schemes and social media has become their primary hunting ground.

AI-Fueled Fraud Is on the Rise

The fake videos of Leila Fourie are the latest in a worrying trend of deep fake scams, where artificial intelligence is used to manipulate video and audio to make it appear as if public figures are promoting products or services.

Earlier this year, other South African figures, including government officials and business leaders, were targeted in similar scams. As these tools become more accessible, financial watchdogs warn that misinformation will only become more sophisticated and harder to detect.

Public Urged to Stay Vigilant

The JSE is working with social media platforms to remove the offending content but warns that prevention lies in public awareness. They are urging anyone who comes across suspicious posts or receives investment messages via social media to avoid engagement and report them immediately.

“Members of the public are encouraged to remain vigilant and report all suspicious activity directly to the JSE.”

South Africans, already navigating a volatile financial landscape, are reminded that legitimate investment advice and opportunities never come through random DMs or flashy videos, especially not ones with celebrities or CEOs promising quick returns.

Need to report a scam using the JSE name or logo?
📧 Email: [email protected]
📞 Call: 011 520 7000
🔍 Verify a broker: www.jse.co.za

Stay smart. Stay sceptical. And never invest based on a viral video.

{Source: Daily Investor}

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