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Another day, another digital currency scandal

08 July 2021 | General

Another day, another dollar … or so they saying goes. Locally, we might tweak it to read: Another day, another mysterious bitcoin-related scam making the headlines for allegedly evaporating billions in South African investors’ cash. If you think today’s opening sentences lack empathy or come across as slightly cynical, you are correct on both counts. For one thing, I remain suspicious of the amount of cash reportedly caught up in these crypto heists / scams and equally wary of the lack of evidence surrounding the claims and counter claims being made by attorneys representing investors (sic), the Financial Sector Conduct Authority (FSCA), the supposed scam masterminds and even the media.

FSCA issues public warning against Globexplore World (Pty) Ltd and Saleem Iqbal

06 July 2021 | Financial Sector Conduct Authority (FSCA) (was FSB)

The Financial Sector Conduct Authority (FSCA) warns the public to act with caution when dealing with Globexplore World (Pty) Ltd (Globexplore World) and Saleem Iqbal.

Provident fund rapped for placing sisters' benefits in a beneficiary fund

05 July 2021 | PFA - Pension Fund Adjudicator

In a recent determination involving the Old Mutual Superfund Provident Fund, the Pension Funds Adjudicator, Muvhango Lukhaimane, expressed her dissatisfaction with a decision by the fund to make payment of a death benefit allocated to adult beneficiaries to the Fairheads Independent Beneficiary Fund.

FSCA warns the public against Cash FX Group (CFX)

02 July 2021 | Financial Sector Conduct Authority (FSCA) (was FSB)

The Financial Sector Conduct Authority (FSCA) warns the public against doing any financial services business with Cash FX Group (CFX) which is not authorised to give any financial advice or render any intermediary services in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act). CFX is not regulated by the FSCA and are not registered to give financial advice in South Africa.

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