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Unauthorised financial services business: FSCA issues a long list of entities and individuals
Boutique asset manager Denker Capital is the latest FSP to be impersonated by fraudsters operating on social media.
‘Lack of maintenance or wear and tear’ gave rise to most of the disputes in several categories of insurance.
Read moreBoutique asset manager Denker Capital is the latest FSP to be impersonated by fraudsters operating on social media.
The recent plea deal resulting in a 25-year prison sentence for Craig Warriner is under scrutiny for allegedly failing to serve the interests of justice and providing minimal benefit to the State beyond administrative closure.
The bank also says it closed the accounts of some 190 clients in 2023 following ‘reviews of client activity and related reputational risks’.
Old Mutual provides context to the Molefi complaint, and how the group is planning to address the alleged non-payment.
Shaun Dorning redirected payments totalling R4.2 million from a client while working as an independent contractor.
The Authority breaks down the red flags that may indicate a product or scheme is fraudulent.
In the battle against fraud, Sameer Kumandan, managing director of SearchWorks, a data aggregation platform, underscores the pivotal role of robust Know Your Customer (KYC) and Know Your Business (KYB) checks.
There has been an increase in complaints about deceptive practices wherein fraudsters employ the details of celebrities to persuade individuals to invest.
The financial services group is aware of another client who fell victim to the former employee’s alleged misconduct.
Sales fraud, where intermediaries write-up policies without clients’ knowledge to earn commission, constituted 57% of all fraud cases in 2022.
The FAIS Ombud alerts consumers to the strategies fraudsters are using to trick consumers into signing up for policies.
SCA orders a policyholder to repay Discovery Insure the entire settlement, not only the amount related to the fraudulent part of the claim.
The impersonator pretends to have information about an investigation … and solicits a ‘settlement payment’.
FSCA issues a spate of warnings about scammers impersonating authorised FSPs and offering unrealistic returns.
Complaints about current accounts and digital banking were the two largest categories of cases opened with the ombudsman.
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