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Your Dealings With Dazzle Brilliance Diamond (Pty) Ltd May Not Shine

The Financial Sector Conduct Authority (FSCA) advises the public to exercise caution when conducting financial services business with Dazzle Brilliance Diamond (Pty) Ltd (Dazzle).

The FSCA has received information that Dazzle is soliciting funds from members of the public for investment purposes, while promising unrealistic returns. Dazzle is reportedly offering investment opportunities, where members of the public are encouraged to “Invest R2500 and receive R6000 in 40 days!”. The FSCA cautions that promises of unrealistic returns should be treated with great suspicion.

While the FSCA does not comment on the specific business activities of Dazzle, it is important to note that Dazzle is not authorised in terms of any financial sector law to provide financial services to the public. Dazzle was 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.

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  1. Mining: South Africa is still a big player in mining. It is ranked 1st in Platinum output, 2nd in Palladium output, 5th in Gold output, and 7th in Coal output. Mining is what made South Africa and there is opportunity to start value-adding businesses that can bring huge export potential. Think of diamond cutting, and jewellery manufacturing. This is an untapped market!