The South Africa Financial Sector Conduct Authority (FSCA) issued a public warning urging caution when conducting financial services business with Lucas Sekhorane Maake, who operates as Skuriey.rsa on Telegram. The FSCA was alerted that he is offering forex signals and account management services, including trading on behalf of members of the public in return for 50% of any profits, and notes that he is not authorised under any financial sector law to provide financial services in South Africa. The regulator highlighted risks associated with signal providers, including remuneration through subscription fees or a share of profits and the possibility of benefiting via broker commissions even when clients incur losses. It warned that fictitious signals and fake trading patterns are sometimes used to lure clients, and urged the public not to accept financial advice, assistance or investment offers from unauthorised individuals or entities. The FSCA also recommended verifying authorisation status, the category of advice a person is registered to provide, and that any Financial Services Provider (FSP) number used matches the name on the FSCA database through the FSCA’s verification channels.

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