SA tops global fraud charts as FSCA flags social media investment scams
The FSCA warns South Africans to stay vigilant as unauthorised individuals and entities exploit social media and digital platforms to solicit high-risk investments.
#socialmediafraud
Deepfake deception and social media scams: the seductive face of investment fraud
From impersonating financial institutions to AI-generated videos of trusted figures, fraudsters are exploiting technology and social networks to steal investors’ hard-earned money.
‘Investment’ scammers impersonate companies on Telegram
The FSCA also alerts the public to individuals who may be providing financial services without authorisation.
FSCA flags unauthorised investment schemes and funeral policies
An entity must be authorised by the FSCA and the Prudential Authority to issue insurance policies in South Africa.
