FSCA warns of fraudulent financial services scams on Telegram
Scammers are using the names of legitimate companies such as RisCura Solutions and Salvo Capital to lure unsuspecting investors into Bitcoin and ‘high-return’ schemes.
Scammers are using the names of legitimate companies such as RisCura Solutions and Salvo Capital to lure unsuspecting investors into Bitcoin and ‘high-return’ schemes.
The public is also urged to be wary of doing financial services business with two entities that might not be authorised.
Impersonators who have knowledge of the Authority’s investigations into scams are using this information to extort money from victims.
The “investment platform” claims to offer investment opportunities in berry farming ventures while promising returns of up to 45% a month.
The FSCA encourages the public to be cautious of fraudulent schemes on messaging platforms, as they are on the rise.
An offer to assist the investor with recovering her returns from the individuals who defrauded also turned out to be a scam.
The FSCA is also investigating a company that may be selling guarantee insurance without authorisation.
The FSCA also alerts the public to a cryptocurrency trading platform that is not authorised to render services in South Africa
The Authority also alerts the public to an unauthorised entity that is promising unrealistic returns from forex trading.
The FSCA says it is investigating various entities because of concerns that they may be offering unauthorised investments.
FSCA issues a spate of warnings about scammers impersonating authorised FSPs and offering unrealistic returns.
On 26 October, alone, the FSCA issued six warnings to the public against providers of financial services which the regulator suspected were conducting unregistered business. Four of the six were involved in the […]
On 26 October, alone, the FSCA issued six warnings to the public against providers of financial services which the regulator suspected were conducting unregistered business. Four of the six were involved in the […]
The FSCA often publishes media releases to warn the public against dubious service providers in the financial services industry. A recent example concerned a formal investigation into the activities of a company called […]
The FSCA often publishes media releases to warn the public against dubious service providers in the financial services industry. A recent example concerned a formal investigation into the activities of a company called […]