The Financial Sector Conduct Authority (FSCA) issued a public warning urging consumers to exercise caution and avoid conducting financial services business with Mr Neo Nkoko, who is reportedly soliciting funds from members of the public for investment purposes, including forex trading opportunities. Information received by the FSCA indicates that Mr Nkoko encourages prospective investors to deposit funds into his bank account and then stops communicating with them. The FSCA confirmed that he is not authorised under any financial sector law to provide financial services to the public and that he failed to respond to the regulator’s enquiries. The authority also reminded consumers to only accept financial advice or investment offers from authorised providers, to check that authorisation status is clearly displayed in documentation, and to verify a provider’s authorisation status, permitted advice category and that any financial services provider number matches the name shown on the FSCA database, including for offers made via social media or unsolicited approaches.
South Africa Financial Sector Conduct Authority 2025-10-21
South Africa Financial Sector Conduct Authority warns public against Mr Neo Nkoko over unauthorised forex investment solicitations
The South Africa Financial Sector Conduct Authority (FSCA) issued a warning against Mr Neo Nkoko, who is soliciting funds for investment, including forex trading, without authorization. The FSCA advises consumers to verify the authorization status of financial service providers and to be cautious of unsolicited offers.