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Warning: Persons Impersonating Quantum Wealth Management (Pty) Ltd

The Financial Sector Conduct Authority (FSCA) advises the public to exercise caution when engaging with administrators of Telegram groups falsely claiming to be associated with authorised financial services provider (FSP) Quantum Wealth Management (Pty) Ltd (Quantum Wealth) (FSP 862), as well as its director, Ms. Alicia De Klerk (Ms. De Klerk).

It was brought to the attention of the FSCA that individuals behind the Telegram group are purporting to be associated with Quantum Wealth and are using its name and the identity of Ms De Klerk in a Telegram group called ‘Quantum Wealth’. The impersonators promote investments and promise unrealistic returns within 48 hours of the initial investment.

Without commenting on the business of the impersonators, the FSCA points out that offering financial products and services in South Africa requires its authorisation. The impersonators and/or the administrators of the Telegram group are not authorised in terms of any financial sector law to provide financial services. The administrators of the Telegram group failed to respond to any FSCA enquiries.

Quantum Wealth has confirmed that neither it nor Ms De Klerk are affiliated with the Telegram group, its activities and those associated with it.

The public is urged to act with care when investing their funds. 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 opportunities.

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