The Financial Sector Conduct Authority (FSCA) warns the public to be cautious of a person impersonating Mr. Luzuko Nomjana of Prescient Investment Management (Pty) Ltd an authorised Financial Services Provider (FSP number 612) (Prescient).
The Compliance Officer of Prescient (Ms. Nazley Herandien) confirmed that Prescient received communication from a complainant who has been scammed and Prescient and their representatives, Mr. Luzuko Nomjana have been impersonated on WhatsApp.
It is stated that the picture on the person’s WhatsApp profile, is Mr. Luzuko Nomjana’s picture, and he has been impersonated and was not aware of his name and appearance being used. It is further stated that the person uses an ABSA bank account number 9384035403.
The FSCA encourages the public to be cautious of scams being run on messaging platforms, as well as the different social media platforms as they are on the rise.
What is Fraud? “Fraud” is any activity that relies on deception in order to achieve a gain. Fraud becomes a crime when it is a “knowing misrepresentation of the truth or concealment of a material fact to induce another to act to his or her detriment” (Black’s Law Dictionary). In other words, if you lie in order to deprive a person or organization of their money or property, you’re committing fraud.