The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with individuals or entities who are claiming to be authorised or licenced with the FSCA. The public is advised to exercise caution when engaging in financial services with individuals or entities operating under the following names:
- Lumia Bit AI
- Instant ePrex XP South Africa
- Lunexa Vault
- Luaranivotheq platforms (collectively referred as flagged platforms) in South Africa.
It has come to the FSCA’s attention that the flagged platforms are promoting AI enabled automated trading platforms to members of the public, offering access to cryptocurrencies, forex, stocks, and trading signals.
While the FSCA does not comment on the business activities of these flagged platforms, the FSCA confirms that none of the entities listed above are authorised by it to provide financial services to members of the public. The FSCA could not contact the entities on the details available to it.
The public