South Africa's Financial Sector Conduct Authority (FSCA) issued a public warning urging consumers to exercise caution when dealing with Mr Hlalani Rocken Nkuna, who has been reported to be soliciting funds from the public for investment purposes and recruiting members through Instagram. The FSCA noted that Nkuna is not authorised under any financial sector law to provide financial services to the public in South Africa. Nkuna did not respond to the FSCA’s enquiries. The regulator urged consumers to avoid accepting financial advice, assistance, or investment offers from unauthorised persons, and to verify a provider’s authorisation status before making any payments. It also highlighted common scam indicators, including unrealistic or exaggerated returns, offers made via social media, upfront payment requirements, demands for additional payments to access returns, paid “training” requirements, pressure to act urgently, and vague information about the investment product.
South Africa Financial Sector Conduct Authority 2025-09-03
South Africa's Financial Sector Conduct Authority issues public warning over Hlalani Rocken Nkuna’s unauthorised investment solicitations on Instagram
The South Africa Financial Sector Conduct Authority (FSCA) issued a warning against Mr. Hlalani Rocken Nkuna, who is soliciting funds for investments via Instagram without authorization. The FSCA advises consumers to verify a provider's authorization status and be wary of common scam indicators such as unrealistic returns and urgent pressure tactics. Nkuna did not respond to the FSCA's enquiries.