The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with Timz Nas 100.
It has come to the FSCA’s attention that Timz Nas 100 markets trading-related content through social media platforms. Timz Nas 100 promotes its activities on Instagram, TikTok and YouTube under variations of its name, including but not limited to @timz_nas100_sa and @timznas100. Timz Nas 100 promotes trading in NAS100 and US30 and provides trading signals. The FSCA was unable to reach Timz Nas 100 and administrators of its platform on the contact details provided to it.
While the FSCA does not comment on the specific business model or services offered through the Timz Nas 100 platform, it is important to note that the administrator of this platform is not authorised under any financial sector law to provide financial services to the public.
The public is strongly urged to exercise caution when considering unsolicited investment or trading offers, particularly those communicated through social media. Members of the public are advised to act with care when investing their funds, as many fraudsters operate sophisticated scams, the number of which continues to grow. South Africans lose millions of rands each year to such schemes, which are often disguised as legitimate operations.
The public is therefore advised to remain vigilant and to look out for certain tell-tale warning signs when approached with seemingly attractive investment opportunities.