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Warning: Persons Impersonating Capitec Bank Limited

The Financial Sector Conduct Authority (FSCA) warns the public to be cautious when conducting financial services business with persons using WhatsApp, Facebook, and websites purporting to be associated with financial services provider (FSP) Capitec Bank Limited (Capitec Bank) (FSP number 46669).

It has come to the attention of the FSCA that individuals using WhatsApp, Facebook and fake websites are using the name, logo, and FSP number of Capitec Bank, to solicit investment from members of the public. Members of the public are being offered high returns on investment in shares. The impersonators claimed to be authorised to invest in shares of companies listed on Johannesburg Stock Exchange (JSE).

Capitec Bank confirmed that it is not associated with the impersonators operating on WhatsApp. Facebook and the fake websites. Capitec Bank also confirmed that it does not use WhatsApp and Facebook to conduct business. The impersonators did not respond to FSCA enquiries.

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.

The public is advised to be on the lookout for certain tell-tale danger signs when approached by persons offering attractive investment opportunitie

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