With over 40 warnings issued this year, the FSCA is urging the public to steer clear of investment offers on social media that promise unrealistic returns and falsely claim ties to trusted financial brands.
From Facebook investment scams to impersonators posing as Sygnia’s CEO, the FSCA has issued multiple warnings against unauthorised operators.
Not even South Africa’s president has been spared as scammers use deepfake videos of public figures to promote bogus investment schemes – prompting fresh warnings from the FSCA about social media scams, impersonations, and unauthorised financial services.
FSCA warns about Miway Express Credit Solutions, as well as entities and individuals who are impersonating legitimate FSPs.
