South Africa’s Financial Sector Conduct Authority (FSCA) issued a public warning about individuals impersonating Capitec Bank Limited (financial services provider number 46669) to solicit investments using WhatsApp, Facebook and fake websites. The impersonators are offering high returns on “share” investments and claim to be authorised to invest in companies listed on the Johannesburg Stock Exchange, while Capitec Bank confirmed it is not associated with these schemes and does not conduct business via WhatsApp or Facebook. The FSCA urged consumers to be cautious with unsolicited investment or trading offers on social media and highlighted common red flags, including unrealistic returns, upfront payments, requests for additional money to release investments, paid “training” requirements, pressure to act urgently and vague product information. It also directed the public to verify whether a provider or individual is authorised and to confirm the stated FSP number through the FSCA’s verification channels.
South Africa Financial Sector Conduct Authority 2025-10-20
South Africa Financial Sector Conduct Authority warns public about Capitec Bank impersonators soliciting share investments via WhatsApp Facebook and fake websites
The South Africa Financial Sector Conduct Authority (FSCA) warned about individuals impersonating Capitec Bank Limited to solicit investments via WhatsApp, Facebook, and fake websites. These impersonators falsely claim to offer high returns on investments in Johannesburg Stock Exchange-listed companies. The FSCA advises caution with unsolicited offers on social media and recommends verifying the legitimacy of financial service providers through its channels.