The Financial Sector Conduct Authority (FSCA) issued a public warning to exercise caution when dealing with persons claiming to be associated with financial services provider TCEPMA CC (FSP number 36799), after receiving reports of impersonators soliciting investments using TCEPMA’s identity. TCEPMA confirmed it is not associated with the impersonators, and the FSCA was unable to contact the impersonators for comment. The regulator urged the public to be cautious about investment or trading offers made via social media or unsolicited approaches, and highlighted common warning signs including unrealistic returns, requests for upfront payments, demands for additional payments to release investments, paid “training” requirements, pressure to act urgently, and vague information about the product. The FSCA advised consumers to verify whether a provider or individual is authorised and to confirm the relevant FSP number using the FSCA’s verification channels, including its telephone service and online register searches by licence and product category and under the Financial Advisory and Intermediary Services Act, 2002.
South Africa Financial Sector Conduct Authority 2025-09-03
South Africa Financial Sector Conduct Authority warns of impersonators using TCEPMA CC’s name to solicit investments
The Financial Sector Conduct Authority (FSCA) warned about impersonators falsely claiming ties with financial services provider TCEPMA CC (FSP number 36799). The FSCA advises caution against investment offers via social media or unsolicited approaches, highlighting warning signs like unrealistic returns and upfront payment requests. Consumers should verify providers' legitimacy using FSCA's verification channels.