Latest News & Developments
An international syndicate has allegedly defrauded South African investors of hundreds of millions, operating under the guise of legitimate financial service providers, while the country's financial regulator remains slow to respond despite mounting evidence.
Banxso's legal battle leaves thousands of customers anxious about frozen funds as court dates approach. The outcome may reshape South Africa's online trading landscape.
The FSCA's 2025 Complaints Management Industry Review Report reveals significant consumer dissatisfaction with complaint handling processes among financial service providers, with 67% of respondents expressing discontent. The report highlights the need for improved communication and transparency in complaint resolution
FSCA officials express optimism about South Africa's potential removal from the FATF grey list, highlighting significant reforms in anti-money laundering and counter-terrorism financing frameworks.
The Financial Sector Conduct Authority's latest review exposes significant shortcomings in South African banks' complaint management systems, highlighting issues in categorisation, record-keeping, and customer communication. The report emphasises the need for urgent improvements to protect consumer interests
Is the FSCA failing South African investors? Explore the shocking allegations of regulatory double standards as the authority remains silent on a multi-billion rand scam while swiftly acting against others.
Desiree Martin, a client of Banxso, has accused Pierre Du Toit of Mostert and Bosman of obstructing all efforts to recover funds from Banxso - claiming that while they risked losing money, Du Toit stood to benefit from the company's liquidation
The case has exposed what appears to be a concerning pattern of regulatory overreach on the part of the Financial Sector Conduct Authority.
Clients accuse Mostert and Bosman of failing to disclose a significant R57m settlement offer from Banxso, raising questions about transparency in the ongoing liquidation battle.
The Financial Sector Conduct Authority is set to release a critical report highlighting concerns over banking fees transparency and customer ethics in South Africa. The announcement comes amid parliamentary scrutiny of major banks regarding transformation and account closure practices.
Consumers are warned as scammers exploit the hopes and ambitions that come with the new year, targeting vulnerable individuals with sophisticated schemes
Finance Minister Enoch Godongwana's recent comments on bank account closures raise serious concerns about constitutional rights and economic justice in South Africa
The SA Police Service has remained silent for 11 months on the investigation into the death of Markus Jooste.
Banxso's R57 million settlement offer was rejected, raising serious questions about the motives behind its liquidation proceedings.
The woman was initially allocated 60% from the provident fund but the amount was reduced to 30% after she fought for 100%.
Despite the Western Cape High Court's lifting of a preservation order on Banxso's accounts, the FSCA steadfastly refuses to authorise the release of these funds.
The wife, who was initially nominated to get 50% from her late husband’s R2. 4 million pension fund, was aggrieved when her amount was reduced to 25%.
The former employee told the Financial Services Tribunal that former employees that had been dismissed on same conclusion of negligence, have received their pension funds.
If you suspect any fraudulent activity or are uncertain about the legitimacy of a financial service provider, the FSCA urges you to reach out for verification.
The former mayor is accused of deceiving vulnerable citizens of Soweto into enrolling in a funeral insurance program that required them to pay monthly premiums.
South Africa is set to regulate AI, and software escrow is emerging as a critical tool for mitigating risks in financial services. Learn why this safeguard is becoming essential.
The FSCA has issued a warning to the South African public about a scam involving fraudsters impersonating both the FSCA and its Commissioner, Unathi Kamlana.
The Al Jama-ah councillor is embroiled in an insurance fraud scandal based in Soweto.
Miway Express Credit Solutions has made false claims of being a registered financial services provider, according to the FSCA.
While on an overseas trip sponsored by the company due to her sales performance, she was informed that there were complaints made against her.