In a press release issued on the 20 August 2025, the Financial Sector Conduct Authority (FSCA) warned the public not to deal with an entity referring or purporting to be “Octodec Invest Ltd” claiming to be associated with the Johannesburg Stock Exchange (JSE), a licensed stock exchange. The entity is using the name similar to “Octodec Investments Limited”, a duly JSE-listed entity; together with the JSE’s name (a licensed Stock Exchange) without any approval, creating an impression that it is affiliated to the JSE and that its activities are approved by JSE when this is not the case.
The JSE has confirmed that the unauthorised use of Octodec’s name in this manner or in connection with the application/platform referred to as “AIJSE” is not linked to the JSE nor Octodec Investments Limited and that use thereof is part of an ongoing impersonation criminal syndicate involving the unauthorised use of JSE registered trademarks. The unauthorised use of or reference to the JSE name is in contravention of section 4(2) of the Financial Markets Act 19 of 2012 which prohibits a person who is not a licensed exchange from purporting to be an exchange or behave in a manner or use a name or description which suggests, signifies or implies that there is some connection between that person and an exchange.
It is the FSCA’s view that the entity is using the names of both Octodec and the JSE without proper authorisation and is fraudulently using the JSE and Octodec’s names to conduct business and mislead members of the public. Octodec Investments Limited has further distanced itself from the fraudulent syndicate “Octodec Invests Ltd”. The FSCA urges anyone doing business with the latter entity to be extremely cautious and always obtain proof of any business dealings for future reference.
The following methods may be used to confirm the status and FSP number of a service provider or a person that claims to be an authorised service provider:
- Toll-free number: 0800 110 443
- Conducting an online search for authorised financial institutions by licence and product category by clicking on this link.
- Conducting an online search for a financial institution that is an authorised financial services provider (FSP) in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act).
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.