Etica Capital warns investors against fake website promising 17.55% returns

Etica Capital Limited has warned investors against a fraudulent website allegedly impersonating the investment firm and soliciting money through unauthorised payment channels.

In a notice published on its official X account on Tuesday, the company identified the website, eticammf.com, as a suspected scam designed to collect personal information and steal investors' funds.

The firm said the website was registered on October 5, 2026, and was using the name “Etica Stock Market Ltd” to mislead potential investors into believing they were dealing with the legitimate investment manager.

Etica urged Kenyans to verify investment platforms before transferring money, warning that the fraudulent website used several features intended to create an impression of legitimacy.

“We have identified a highly sophisticated clone website actively impersonating Etica Capital Limited. This website is a SCAM designed to harvest your personal information and steal your funds,” the company said.

The firm identified its official website as eticacap.com and advised investors to verify its regulatory status through the Capital Markets Authority (CMA) Kenya's online register of licensed entities.

Etica said the suspected fraudulent platform advertised an average money market fund (MMF) yield of 17.55%, which it described as a misleading offer intended to attract investors.

Money market funds pool investors' money and typically invest in short-term instruments such as government securities, bank deposits and commercial paper. Returns vary according to prevailing market conditions and the fund's investment performance.

The company also alleged that the website used unauthorised video clips titled “Etica Money Market Fund” to create a false impression that it was affiliated with the legitimate business.

Another warning sign, according to the firm, was the platform's use of a “CMA Licensed Regulated” label despite allegedly lacking authorisation from the regulator.

The company urged prospective investors not to rely solely on website designs, logos, promotional videos or claims of regulatory approval when deciding where to place their savings.

Instead, it advised them to confirm a fund manager's identity and licensing status through the CMA's official register before making any financial commitments.

The investment firm also identified two payment channels that it said were associated with the suspected fraud.

These were M-Pesa Till Number 4320502, reportedly registered under the name NYXOS VENTURES, and Paybill Number 714777.

Etica warned investors against sending money through either channel, saying legitimate transactions with the company should be handled through its authorised bank collection accounts and verified official Paybill Number 4096483.

“Legitimate investments with Etica Capital Limited are handled strictly through our authorized, regulated bank collection accounts and our verified official Paybill 4096483,” the company explained.

It advised customers to use M-Pesa's Hakikisha feature to confirm the recipient's details before completing transactions.

The feature allows users to check the name associated with a mobile money transaction before confirming payment, helping them identify discrepancies between an intended recipient and the registered account holder.

However, investors should also independently confirm payment instructions through the firm's official contact channels rather than relying on a displayed business name alone.

Etica asked anyone who had interacted with the website or shared payment confirmation messages with its operators to contact the company's compliance desk.

The firm provided the email address info@eticacap.com and telephone or WhatsApp number 0769 999666 for affected individuals seeking assistance.

It also urged Kenyans to share the warning to help prevent other investors from falling victim to the suspected scheme.

The warning highlights the risks posed by online impersonation, in which fraudsters use similar website addresses, copied branding and exaggerated investment claims to persuade customers to transfer funds or disclose personal information.

Investors are advised to avoid sharing passwords, personal identification details or financial credentials through unverified websites and to contact their banks or mobile money providers immediately if they suspect they have been defrauded.

The claims concerning the website and payment channels are those made by Etica Capital Limited in its public notice. Investors should verify the firm's licensing status and payment details directly with the relevant official institutions before making transactions.