Corporate loses R483 million in ‘deepfake’ conference call scam
The 13th Allianz Risk Barometer reveals that deepfake video technology, aimed at facilitating phishing scams, is now readily available online, priced as low as R377 a minute.
FSCA
Consumers warned of latest social media scammers
The FSCA encourages the public to be cautious of fraudulent schemes on messaging platforms, as they are on the rise.
FSCA wants to know number of personal lines claims in 2023
The information will help the Authority to monitor the extent to which insurers are delivering fair outcomes for consumers.
FSCA’s investigation into Tongaat Hulett accused not unlawful
The Full Bench of the High Court finds that the Authority’s investigating panel did not treat Michael Deighton unfairly.
Centaur, IC Markets, and RCG Markets latest targets of impersonation scams
An offer to assist the investor with recovering her returns from the individuals who defrauded also turned out to be a scam.
FSCA warns public of rising scams on social media platforms
The Authority breaks down the red flags that may indicate a product or scheme is fraudulent.
‘Crowd-farming’ platform co-operating with FSCA over licensing concerns
Livestock Wealth says it was under the impression, based on correspondence with the Authority, that it did not need a licence to sell agricultural assets.
First wave of crypto asset service provider licences nears approval
The FSCA also confirms that one FSP licence has been provisionally suspended as part of its investigation into advisers who may have referred clients to BHI Trust.
What you should know about the FAIS competence requirements
The first in a series of articles that explains the competence requirements for people who want to enter the financial services industry.
Family members in court for alleged multimillion-rand Ponzi scheme
The trio linked to Coin-It Trading were charged with fraud, contravening the FAIS Act and the Banks Act, and with money laundering.
Three FSPs’ licences, branding abused in social media investment scam
The FSCA is also investigating a company that may be selling guarantee insurance without authorisation.
Proposed amendment Bill aims to end funeral cover over-insurance
A review of the entire structure of the funeral class would be a better way to prevent over-selling, says Moonstone Compliance’s Paull Lawrence.
Financial services entities recognised for exceptional HR practices
They are among the 138 South African employers to earn the accreditation of ‘top employer’.
Fund’s ‘unrealistic monthly returns’ of concern, warns financial regulator
MMM Krypto, marketed as a ‘mutual aid fund’, promises participants returns of between 24% and 36% per month.
Financial regulator again extends the exemption on compliance officer visits
The exemption remains subject to the conditions announced in 2017, and COs must inform FSPs they are operating under the exemption.
Scammers forge fake regulatory exam certificates
In their latest scheme, fraudsters are peddling fake Regulatory Examination certificates, utilising the name and logo of Masthead (Pty) along with the FSCA’s.
10 tips that can save you from falling victim to an ‘investment’ scam
There has been an increase in complaints about deceptive practices wherein fraudsters employ the details of celebrities to persuade individuals to invest.
