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FSCA Issues Public Warning Against Ameritindexmarket

The Financial Sector Conduct Authority (FSCA) warns the public to be cautious when conducting financial services business with Ameritindexmarket.

It has come to the attention of the FSCA that Ameritindexmarket is soliciting funds from members of the public for investment purposes through social media (Facebook and Instagram). Ameritindexmarket is promising unrealistic returns within 12 hours. The FSCA points out that any offer of unrealistic returns must be viewed with great suspicion, especially if it is coupled to an unrealistic turn-around time relating to the profits.

While the FSCA does not comment on the specific business of Ameritindexmarket, it points out that Ameritindexmarket is not authorised in terms of any financial sector law to provide financial services to the public in South Africa. Conducting unregistered financial services business is a criminal offence. The FSCA was unable to reach Ameritindexmarket for comment.

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.

The public is strongly urged to exercise caution when considering unsolicited investment offers or investment offers emanating from social media platforms.

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