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FSCA Warns Against Individuals Impersonating Brokstock SA (Pty) Ltd (FSP Number 51404)

The Financial Sector Conduct Authority (FSCA) received information that Zibu Masotobe Sibiya with WhatsApp number (+27717684632), and her associate Mike Mabuyakhulu with WhatsApp number (+27794293027) are impersonating Brokstock SA (Pty) Ltd. The individuals are unlawfully acting as representatives through Telegram and WhatsApp groups called Brokstock Beginner/s. The bank account number they are using is Brockstockshares FNB account number 62871907790, and email address brockstockshares@gmail.com. The individuals are luring clients to deposit funds into a fraudulent bank account.

Brokstock SA (Pty) Ltd has confirmed that the individuals are in no way associated with the FSP, and any representations suggesting otherwise are entirely false and misleading.

Brokstock SA (Pty) Ltd emphasises that it will never share its banking details via public communication channels, such as Telegram or WhatsApp.

The FSCA urges the public to exercise caution regarding scams conducted through messaging services and various social media platforms, as such incidents are increasing.

Members of the public should always check:

  • that an entity or individual is authorised by the FSCA to provide financial products and services, including giving recommendations about how to invest.
  • what category of advice the person is registered to provide, as there are instances where companies or people are registered to provide basic advice for a low-risk product and then offer advice on far more complex and risky products.
  • that the FSP number utilised by the entity or individual offering financial services matches the name of the FSP on the FSCA database.
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