MyZA

News, Directory, Events and Other Stuff

You are here: Home / News / Business / Public Warning Issued Against Mr Michael Jacobs and AMFX Solutions

Public Warning Issued Against Mr Michael Jacobs and AMFX Solutions

The Financial Sector Conduct Authority (FSCA) advises the public to exercise caution when conducting financial services business with Mr Michael Jacobs (Mr. Jacobs) and AMFX Solutions (AMFX).

It has come to the attention of the FSCA that Mr. Jacobs and AMFX are soliciting funds from members of the public for investment purposes, while promising unrealistic returns.

Mr. Jacobs is reportedly offering investment opportunities to members of the public, where members of the public are encouraged to “Invest and enjoy 300% profit, receivable every month for 6 months!”. The FSCA cautions that promises of unrealistic returns should be treated with great suspicion.

While the FSCA does not comment on the specifics of Mr. Jacobs and AMFX’s business, it must be noted that neither Mr. Jacobs nor AMFX are authorised in terms of any financial sector law to provide financial services to the public in South Africa. Mr. Jacobs and AMFX were not available 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 investment or trading offers on social media platforms or any unsolicited offers. There are many fraudsters operating scams, and the number is growing. South Africans lose millions of rands every year to fraudsters. Illegal operations are sometimes well-disguised as legitimate operations.

Category: Tag: ,

If you feel strongly about this article then feel free to send MyZA a ‘Letter to the Editor’ using the submission form below:

Letter to the Editor

This field is for validation purposes and should be left unchanged.
If this is in response to an article please include that article title here or as the lead in for the first paragraph of your Letter below.

Separate tags with commas

Localise your letter by naming the city your words are about. Add relevant words describing your subject. Single comma separated words of no more than 5
Your Name(Required)
Your Name will be linked to the website below.
Your personal, business or social media web site
Choose NO to not set up a user account on MyZA. User Accounts will allow you to submit letters under your own Author Name

3 Latest Letters to the Editor:

  • Re: R8.5 Million Lotto Winner Claims Prize in Gqeberha

    Dear Editor This is indeed an exciting story for the community. Congratulations to the winner and may this bring positive change to Nomathamsanqa. As someone from KwaMashu, I understand the impact such winnings can have on township communities. Wishing the grandfather all the best. Regards Themba Zulu In Response to/From: R8.5 Million Lotto Winner Claims…

  • Re: Minister Tolashe and Postbank Black Cards

    Dear Editor I appreciate the Minister’s assurance regarding the smooth transition to Postbank Black Cards for grant beneficiaries. As a concerned citizen, I hope the government will ensure that all beneficiaries, especially elderly and vulnerable populations in areas like Soweto, receive adequate assistance during this transition period. The expansion of card replacement locations to include…

  • Lotto Winner Story

    Dear Editor This is indeed an exciting story for the community. Congratulations to the winner and may this bring positive change to Nomathamsanqa. Regards Willem Pieterse In Response to/From: R8.5 Million Lotto Winner Claims Prize in Gqeberha

Reader Interactions

Comments

  1. Avi Lasarow: CEO – DNAFit: Hailing from Johannesburg, Avi Lasarow is described as a ‘lifestyle genetics pioneer’ know for his work associated with DNA testing. He is currently CEO of a lifestyle genetic testing company DNAFit. Founded in 2013, DNAFit is the first company to use DNA testing for both combined fitness and nutrition on such scale, using a simple mouth swab to test over 50 different genes related to sport performance and nutrition. Both Lasarow and the company have received numerous awards in the UK, with Lasarow being the first South Africa inducted into the City of London Entrepreneurs Guild.