The South Africa Financial Sector Conduct Authority has issued a public warning about Mr Bennett Nkomo, who is allegedly impersonating an FSCA employee and claiming he can arrange the release of ZAR 3,915,670 to a member of the public once “levies” are paid upfront. The FSCA reports that the individual used the FSCA logo and physical address in communications, referred to the regulator as the “Tactical Financial Authority”, and claimed to be licensed under Section 8 of the Financial Advisory and Intermediary Services Act using licence number 53789. FSCA records show FSP number 53789 belongs to Schindlers Digital Assets (Pty) Ltd, which has confirmed it has no association with Mr Nkomo and did not authorise the use of its FSP number. The FSCA confirmed Mr Nkomo is not an employee, the bank account details provided are not the FSCA’s, and the FSCA does not hold funds on behalf of members of the public. The regulator is investigating the matter and urged the public to be vigilant about unsolicited offers involving large sums of money that require upfront payments, and to verify whether a person or institution is authorised as a financial services provider through the FSCA’s official channels.
South Africa Financial Sector Conduct Authority 2025-10-17
South Africa Financial Sector Conduct Authority warns of impersonation scam using its name and FSP number 53789
The South Africa Financial Sector Conduct Authority (FSCA) warns about Mr Bennett Nkomo, who is allegedly impersonating an FSCA employee to fraudulently claim he can release ZAR 3,915,670 upon payment of upfront "levies." The FSCA confirmed Mr Nkomo is not affiliated with them, and the licence number he used belongs to Schindlers Digital Assets (Pty) Ltd, which has no connection to him. The FSCA advises the public to be cautious of unsolicited offers requiring upfront payments and to verify financial service providers through official FSCA channels.