Banxso and law firm clash over scammers exploiting investors
As scammers exploit Banxso investors with fake fund recovery schemes, Banxso and law firm Mostert & Bosman point fingers at each other over data breaches and accountability.
As scammers exploit Banxso investors with fake fund recovery schemes, Banxso and law firm Mostert & Bosman point fingers at each other over data breaches and accountability.
The Authority challenges Banxso’s claim that it is not connected to Immediate Matrix’s deepfake adverts.
The Authority has made good on its undertaking to act against unlicensed trading signal providers, imposing a R1m fine and a 10-year debarment.
The Authority says its investigation raises concerns about aggressive sales tactics, unrealistic returns, and significant losses by clients.
The Authority emphasises that the investigation is not complete, and it has made no findings to date.
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