The South Africa Financial Sector Conduct Authority (FSCA) issued a public warning about individuals impersonating Prescient Investment Management (Pty) Ltd (FSP 612) and its representative Odwa Sihlobo on a WhatsApp group to solicit investments, noting that the operators are not authorised by the FSCA to provide financial services. Prescient Investment confirmed that neither it nor Sihlobo is associated with the WhatsApp group or its administrator, and the FSCA reported it was unable to reach the administrator for comment. The FSCA urged consumers to treat unsolicited investment or trading offers communicated through social media with caution and highlighted red flags including unrealistic returns, upfront payment demands, pressure to act urgently, additional payments to access purported returns, paid training requirements and vague product information, while encouraging the public to verify provider authorisation and report suspicious activity through FSCA channels.
South Africa Financial Sector Conduct Authority 2025-11-19
South Africa Financial Sector Conduct Authority warns of WhatsApp impersonation of Prescient Investment Management and representative Odwa Sihlobo
The South Africa Financial Sector Conduct Authority (FSCA) warned about impersonators of Prescient Investment Management soliciting unauthorized investments on WhatsApp. Prescient confirmed no association with the group. The FSCA advised caution against unsolicited social media offers, highlighting red flags like unrealistic returns and upfront payment demands. The public should verify provider authorization and report suspicious activities to the FSCA.