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Exercise Extreme Caution Around Mr Kabelo Edgar Pilusa

The Financial Sector Conduct Authority (FSCA) has issued a warning to the public to be cautious when conducting financial services business with Mr Kabelo Edgar Pilusa (Mr Pilusa).

It has come to the attention of the FSCA that Mr Pilusa is soliciting funds from members of the public for investment purposes. Members are recruited through Instagram. Mr Pilusa also provides signals and trading services to members of the public.

While the FSCA does not comment on the specifics of Mr Pilusa’s business, it must be noted that Mr Pilusa is not authorised in terms of any financial sector law to provide financial services to the public in South Africa. Mr Pilusa failed to respond to FSCA enquiries.

To avoid unnecessary risk, the public should refrain from accepting financial advice, assistance, or investment offers from individuals or entities not authorised by the FSCA.

Authorised financial services providers must clearly display their authorisation status in their documentation. If this is not present, it is advised to further investigate before making any payments.

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