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Public Warning Against Binary Options Investment and MS Caroline Mthethwa

The Financial Sector Conduct Authority (FSCA) has issued a public warning urging members of the public to exercise caution when engaging in financial services transactions with Binary Options Investment (BOI) and Ms Caroline Mthethwa. The FSCA has received information indicating that BOI and Ms Mthethwa are soliciting funds from members of the public for investment purposes, while promising unrealistic returns. BOI is reportedly offering investment opportunities such as “invest and earn up to 50% in just 30 days” and trading signals claiming, “up to 96% winning rates.” The FSCA cautions that such promises should be treated with great suspicion.

While the FSCA does not comment on the specific business activities of BOI and Ms Mthethwa, it is important to note that neither BOI nor Ms Mthethwa is authorised under any South African financial sector law to provide financial services to the public. Attempts to obtain comment from BOI and Ms Mthethwa were unsuccessful.

The FSCA reminds the public to avoid accepting financial advice, assistance, or investment offers from any person or entity not authorised by the FSCA. All authorised financial services providers are required to clearly display their FSCA authorisation status in their official documentation. If such proof is not provided, individuals are advised to conduct further due diligence before making any financial commitments.

The public is also strongly urged to exercise extreme caution when considering investment or trading offers received via social media platforms or through unsolicited communications. For a list of authorised financial services providers, or to verify the status of a provider, please visit the FSCA’s official website at www.fsca.co.za.

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