Financial Services (Pty) Ltd and its Key Individual TThe Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with an individual on Telegram who is purporting to be associated with Smartvest Financial Services (Pty) Ltd, FSP No. 52449 (Smartvest Financial Services), and its Key Individual, Mr Kagiso Tloubatla (Mr Tloubatla).
It was brought to the attention of the FSCA that the individual(s) behind the Telegram group are using the names of Smartvest Financial Services and Mr Tloubatla to promote investments to members of the public. Members of the Telegram group are promised unrealistic returns on their investment.
Smartvest Financial Services has confirmed that it is not associated with the Telegram group or the administrators of this group and that it does not use social media and specifically Telegram to market its services. The FSCA could not contact the administrators behind the Telegram groups for comment.