FSCA warns of surge in impersonators using fake credentials to scam investors
Fraudsters are posing as the FSCA and licensed financial service providers on social media.
#financialregulation
Unauthorised operators masquerade as top firms to promise unrealistic returns
The FSCA warns the public about multiple unauthorised financial scams impersonating trusted brands on social media, urging caution and verification before investing.
Scammers falsely claim to be associated with Brenthurst Wealth, Nicolette Mashile and 1nvest
Online fraudsters are abusing the names of Brenthurst Wealth’s Magnus Heystek and Brian Butchart, as well as Nicolette Mashile of Financial Fitness Bunny, to solicit money from the public.
Legally wed, financially left out: wife denied pension benefit
The FST has upheld a ruling that a legal spouse must still prove financial dependence or be nominated to receive a share of a deceased member’s pension benefit.
‘Investment scheme’ falsely claims ties to Kallie Kriel and Steve Hofmeyr
The FSCA also warns of scammers impersonating 10X Investments, Prescient, Compsure Insurance, and Viviers Brokers.
Revised draft standard for disclosure of short sales open for comment
The new draft introduces a phased approach, initially focusing on positional reporting to overcome challenges identified in earlier consultations and to enhance oversight of short selling.
FSCA says new digital platform will streamline compliance and regulation
IRS, which is set to go live in 2026, will leverage smart analytics to automate risk assessments and provide a comprehensive view of regulated entities.
Beware of doing business with unauthorised entities
Promises of unrealistic returns are clear sign that a scam is afoot.
Levies and fees weighed as PA prepares to regulate CISs and retirement funds
The PA shared an update on the six workstreams focused on the transition, confirming that they will be ready to regulate CISs and retirement funds by 1 April 2026.
SA’s path beyond the grey list: key challenges and opportunities ahead
While South Africa is on track to exit the grey list by October, National Treasury emphasises the importance of long-term improvements and continuous progress in financial regulation.
Scammers impersonate credit providers on loan applications
FSCA also warns about unauthorised funeral policies being sold by a company in the Western Cape.
Warning of impersonation scam involving Nampak
The FSCA also advises the public to be cautious of World Option Crypto and JoziEx.
Latest warnings against unauthorised operators soliciting ‘investments’
The FSCA has issued warnings about individuals and entities promising unrealistic returns while lacking the required authorisation to offer financial services.
Battle between PA and insurers: court clarifies regulatory powers
The High Court confirms the Prudential Authority’s right to challenge Tribunal decisions while affirming the limits of retrospective penalties.
Access Bank and Sava aim to transform small-business banking in SA
Sava, a fintech startup backed by Access Bank South Africa, has received regulatory approval to launch a digital banking platform tailored to SMEs.
Telegram groups impersonating Truffle and Vista Wealth
Impersonators are using the names of authorised financial firms, Truffle Asset Management and Vista Wealth Management, to defraud people.
Ithala hits back: sharp criticism of Reserve Bank’s liquidation move
Ithala accuses the appointed repayment administrator of overstepping his authority, while the Prudential Authority moves to liquidate the entity.
