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FSCA warns the public against individuals claiming to be associated with Pro Global

25 August 2020 The Financial Sector Conduct Authority (FSCA)

The Financial Sector Conduct Authority (FSCA) warns the public not to deal with an individual named Mark Hopkins operating on Instagram claiming to be associated with Pro Global Forex (Pty) Ltd (Pro Global), an authorised Financial Services Provider (FSP No.33691).

The FSCA was informed that Mark Hopkins is using the name ‘markhopkins147’ on social media, asking members of the public to make investments with promises of high returns. Pro Global has confirmed that Mark Hopkins is not linked to Pro Global in any capacity. In addition, Pro Global is not an investment, trading or deposit-taking FSP. The scammer has posted comments on Pro Global’s Facebook page and included falsified international numbers and contact details in the comments section. It is the FSCA’s view that this individual is operating without proper authorisation and is fraudulently using Pro Global’s name to solicit funds from members of the public.

Members of the public should always check that an entity or individual is registered with the FSCA to provide Financial Advisory & Intermediary Services and what category of advice it is that the entity is registered to provide. There are instances where persons are registered to provide basic advisory services for a low risk product and then offer services of a far more complex and risky nature. The FSCA again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSCA on either the toll free number (0800 110 443) or on the website www.fsca.co.za as to whether or not such institution or person is authorised to render financial services.

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