South Africa's Financial Sector Conduct Authority (FSCA) issued a public warning urging caution when conducting financial services business with Mr Daniel Karabo Tshabalala, following information that he is soliciting funds from members of the public for investment purposes and using Instagram to provide signals and trading services. The FSCA confirmed that Mr Tshabalala is not authorised to provide financial services to the public and noted that he failed to respond to the regulator’s enquiries. The authority warned consumers not to accept financial advice, assistance or investment offers from unauthorised persons, and highlighted common red flags including unrealistic returns, social media-based offers, requests for upfront payments, demands for additional payments to release investments, charges for training or onboarding, pressure to act urgently, and vague information about the product. It also advised the public to verify a provider’s authorisation status, confirm that an individual’s ID number matches FSCA records, check the category of advice they are registered to provide, and ensure the financial services provider (FSP) number matches the name on the FSCA database.
South Africa Financial Sector Conduct Authority 2025-11-05
South Africa's Financial Sector Conduct Authority warns the public against Daniel Karabo Tshabalala for allegedly soliciting investment funds without authorisation
The South Africa Financial Sector Conduct Authority (FSCA) issued a warning against Mr Daniel Karabo Tshabalala, who is soliciting funds for investment purposes without authorization. The FSCA advises caution, highlighting red flags such as unrealistic returns and social media-based offers, and urges verification of a provider's authorization status and FSP number.