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Unauthorised Use of an Investment Platform Name and Registered Trademark of Automated Outsourcing Services (Pty) Ltd

The FSCA received information from Automated Outsourcing Services (Pty) Ltd indicating that Smart Initial Trades is using social media to sell forex shares to investors, while unlawfully using the iTransact Investment Platform branding, a registered trademark of Automated Outsourcing Services (Pty) Ltd, without authorisation.

Automated Outsourcing Services (Pty) Ltd further states that Smart Initial Trades is defrauding investors by charging excessive fees and requiring compulsory upgrades in order to access their funds.

The FSCA encourages the public to be cautious of scams being run on messaging platforms, as well as the different social media platforms as they are on the rise.

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