FANews
FANews
RELATED CATEGORIES

FSCA warns the public on possible fraud against JP Markets’ clients

11 September 2020 The Financial Sector Conduct Authority (FSCA)

The Financial Sector Conduct Authority (FSCA) on 8 September 2020 reported that JP Markets has been finally liquidated, following an application by the Authority.

It has come to the attention of the FSCA that persons probably impersonating JP Markets employees have been in contact with JP Markets’ clients promising the return of their funds, if a certain amount of money is paid into a particular bank account.

This is a fraudulent scam. JP Markets has been liquidated and the liquidators have taken control of the funds of JP Markets. No other person has access to these funds and no other person can pay back clients from the accounts of JP Markets. JP Markets clients are advised not to pay any money to these individuals or consider any other requests brought forward.

Contact details of liquidators will be provided soon.

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 the services.

Quick Polls

QUESTION

The shocking crime and motor vehicle accident statistics shared during a recent SHA presentation suggests that group personal accident and personal accident cover are a no-brainer. Do you agree?

ANSWER

Yes
No
Not sure
fanews magazine
FAnews April 2024 Get the latest issue of FAnews

This month's headlines

FAIS Ombud lashes broker for multiple compliance blunders
TCF… a regulatory misfit initiative?
The impact of NHI on medical malpractice insurance
Fixed versus variable: can you have your cake and eat it too?
The future world of work
Subscribe now