The Financial Sector Conduct Authority (FSCA) issued a public warning after receiving information that individuals on Telegram are impersonating Alexander Forbes Financial Planning Consultants (Pty) Ltd (FSP number 31753) and its Chief Executive Officer, Dawie de Villiers, to solicit investments from the public. Alexander Forbes confirmed it is not associated with the Telegram group administrators and does not conduct business through Telegram. The FSCA noted that the administrators are not authorised under any financial sector law to provide financial services and did not respond to the FSCA’s enquiries. The regulator urged the public to treat unsolicited investment or trading offers on social media with caution and highlighted common red flags, including unrealistic returns, upfront payment demands, pressure to act urgently, vague product information, and requests for additional payments to release funds.
South Africa Financial Sector Conduct Authority 2025-11-11
South Africa Financial Sector Conduct Authority warns public about Telegram impersonation of Alexander Forbes and its CEO
The South Africa Financial Sector Conduct Authority (FSCA) warned about individuals impersonating Alexander Forbes Financial Planning Consultants and its CEO on Telegram to solicit investments. Alexander Forbes confirmed no association with these administrators, who are unauthorized to provide financial services. The FSCA advised caution with unsolicited offers on social media, noting red flags like unrealistic returns and urgent payment demands.