The South Africa Financial Sector Conduct Authority (FSCA) issued a public warning urging caution when dealing with administrators of Telegram groups falsely claiming to be associated with authorised financial services provider Quantum Wealth Management (Pty) Ltd (FSP 862) and its director, Ms Alicia De Klerk. The FSCA was alerted to a Telegram group called “Quantum Wealth” where impersonators use Quantum Wealth’s name and Ms De Klerk’s identity to promote investments and promise unrealistic returns within 48 hours. The FSCA noted that the group administrators are not authorised under financial sector laws to provide financial services, did not respond to FSCA enquiries, and Quantum Wealth confirmed it has no affiliation with the group or its activities. The regulator highlighted common scam red flags, including offers made via social media, guaranteed or high returns, urgent payment requests, refusal to provide licensing information, and demands for additional payments to release funds, and directed consumers to verify a provider’s authorisation through FSCA channels.
South Africa Financial Sector Conduct Authority 2025-10-20
South Africa Financial Sector Conduct Authority warns against Telegram impersonators of Quantum Wealth Management
The South Africa Financial Sector Conduct Authority (FSCA) issued a warning about Telegram groups falsely claiming affiliation with Quantum Wealth Management (Pty) Ltd and its director, Ms Alicia De Klerk. These groups, which are not authorised to provide financial services, promise unrealistic investment returns and exhibit common scam indicators. The FSCA advises consumers to verify a provider's authorisation through official FSCA channels.