Fraud Alert
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On 18 November 2024, the FSCA warned the public against Mr Johannes Lodewicus Du Plessis (Du Plessis), saying that hey were entering into a comprehensive investigation of his business practices. The investigation has been finalised and based on the findings of the investigation, the FSCA has decided to: impose an administrative penalty of R4.1 million …
The Financial Sector Conduct Authority (FSCA) has decided to impose an administrative penalty of R300 000 on Mr Joy Praise Kgaphola (Mr Kgaphola) and debar him for a period of 20 years. The FSCA’s decision follows an investigation into the conduct of Datum RS (Pty) Ltd (Datum) and Mr Kgaphola, who was Datum’s sole director. …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with individuals purporting to be associated with First World Trader (Pty) Ltd t/a EasyEquities, an authorised Financial Services Provider (FSP) (FSP 22588). It has come to the FSCA’s attention that individuals are using a fake website to impersonate …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with individuals purporting to be associated with Mattercap Investments (Pty) Ltd, (Mattercap), an authorised Financial Services Provider (FSP) (FSP 53672). It has come to the FSCA’s attention that individuals are impersonating Mattercap on Telegram and are soliciting investments …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with Sappi Online Investment (Sappi Online). It has come to the FSCA’s attention that Sappi Online is purporting to be an authorised financial service provider (FSP) on Telegram by using FSP number 45741. The FSP number being used …
The Financial Sector Conduct Authority (FSCA) warns the public to be cautious when dealing with individuals impersonating the FSCA, and its Commissioner, Mr Unathi Kamlana (the Commissioner). The FSCA received complaints from members of the public, claiming that they were contacted by an individual identifying himself as Lucas Ludka. The individual claimed to be a …
The Financial Sector Conduct Authority (FSCA) has provisionally withdrawn the licence of FXNovus (Pty) Ltd FSP 50963 (FXNovus). The FSCA is concerned that there is a real risk of harm to clients and/or the general public if FXNovus continues its operations as a financial services provider. The provisional withdrawal is based on preliminary investigation findings …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with Mr Uwen Paulsen (Mr Paulsen) and Geefx (Pty) Ltd (Geefx). The FSCA received information that Mr Paulsen was using Geefx to solicit funds from members of the public, for investment purposes. Without commenting on Mr Paulsen’s business, …
It has come to the attention of the Financial Sector Conduct Authority (FSCA) that Mr Sandile Arnold Ngubane (Mr Ngubane) who is the sole director of EduMe with Sandile November (Pty) Ltd (EduMe) (2020/911615/07), is engaged in unlawful activities relating to the unauthorised production and sale of Regulatory Examination (RE) certificates. EduMe has marketed its …
The Financial Sector Conduct Authority (FSCA) hereby informs the public that it is currently conducting an investigation in respect of the persons listed below (investigated parties): Sanus Financial Services (Pty) Ltd (Sanus), trading as EZInvest and Financix; an authorised financial services provider (FSP) with FSP No. 51523; Ms Annette Smyth, the sole key individual for …
The Financial Sector Conduct Authority (FSCA) has provisionally withdrawn the licence of FXNovus (Pty) Ltd FSP 50963 (FXNovus). The FSCA is concerned that there is a real risk of harm to clients and/or the general public if FXNovus continues its operations as a financial services provider. The provisional withdrawal is based on preliminary investigation findings …
The Financial Sector Conduct Authority (FSCA) has provisionally withdrawn the licence of The Grand Trading (Pty) Ltd FSP 53871 (The Grand Trading). The FSCA is concerned that there is a real risk of harm to clients and/or the general public if The Grand Trading continues its operations as a financial services provider. The provisional withdrawal …
The Financial Sector Conduct Authority (FSCA) has concluded its investigation into Eklavya Asset Managers (Pty) Ltd (Eklavya), FSP 45583, Solis Markets, and the relevant key persons. The investigation was initiated following information received by the FSCA alleging that the investigated parties had failed to process client requests for the withdrawal of funds. The investigation uncovered …
The Financial Sector Conduct Authority (FSCA) has concluded its investigation into Astrix Data (Pty) Ltd (Astrix), FSP 45583, currently known as IGM Financial Services (Pty) Ltd (IGM), Vector Financial Services (Pty) Ltd (Vector), Finbok and the relevant key persons. The investigation was initiated following information received by the FSCA alleging that the investigated parties were …
The Financial Sector Conduct Authority (FSCA) has concluded its investigation into Mr Martin James Kift (Kift) and Kift Wealth (Pty) Ltd FSP 49396 (Kift Wealth). The investigation was instructed pursuant to a report that was submitted to the FSCA by Kift and Kift Wealth in which they admitted to certain breaches of financial sector laws. …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with Quilta FX Trade (Quilta FX). It has come to the FSCA’s attention that Quilta FX is purporting to be an authorised financial service provider (FSP). Quilta FX is offering to trade in Bitcoin and other crypto assets. …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with Maivest. The FSCA received information that Maivest is offering members of the public investment opportunities, copy trading services, referral rewards, and team-based incentives through its online platform. Without commenting on the business of Maivest, the FSCA confirms …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with Credora FX. The FSCA received information that Credora FX, through its website https://credorafx.com, is soliciting funds from members of the public for investment purposes. Without commenting on the business of Credora FX, the FSCA confirms that Credora …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with Ampfa. It has come to the FSCA’s attention that Ampfa is soliciting funds from members of the public for forex trading purposes and for a trading robot. Ampfa offers to trade on behalf of members of the …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with BorneMX Market (BorneMX). It has come to the FSCA’s attention that BorneMX is purporting to be affiliated with Tickmill South Africa (Pty) Ltd (Tickmill) an authorised financial services provider (FSP No. 49464). BorneMX is offering trading in …