The Financial Sector Conduct Authority (FSCA) issued a public warning after receiving a complaint about an individual, “Michael Lewis”, impersonating the regulator and claiming to be a “Chief Executive Investigator” appointed by the FSCA. The approach involved claims of recovered assets linked to an unauthorised online trading platform and instructions for victims to set up a cryptocurrency wallet and use a crypto exchange to convert funds into ZAR. The FSCA confirmed that Lewis is not employed by the regulator and that it does not handle recovered assets on behalf of complainants. Lewis did not respond to the FSCA’s enquiries, and the FSCA is investigating the matter while urging the public to remain vigilant.
South Africa Financial Sector Conduct Authority 2025-10-17
South Africa Financial Sector Conduct Authority warns public about impersonation emails sent under the name Michael Lewis
The Financial Sector Conduct Authority (FSCA) issued a warning regarding an individual impersonating the regulator as a "Chief Executive Investigator" and falsely claiming asset recovery linked to an unauthorised online trading platform. The FSCA clarified that it does not manage recovered assets for complainants and is investigating the matter. The public is advised to exercise caution.