The Financial Sector Conduct Authority (FSCA) warns the public to be cautious when doing any financial services business with Globaltech Investment which advertises on Facebook and via its website.
In a statement release, The FSCA noted that it had received concerning information regarding Globaltech. The FSCA stated that Globaltech Investment might be providing financial services and is misrepresenting itself to be an authorised financial services provider (FSP) by publishing an FSP certificate on its Facebook page that is incorrect. The FSP number does not belong to Globaltech. The FSCA do not recognise Globaltech as an authorised financial services provide.
“According to information received, Globaltech Investment is soliciting investments from members of the public with the promise of unrealistic returns of 60% in 30 days. Without commenting on the business of Globaltech Investment, the FSCA points out that Globaltech Investment is not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act) to render any financial advice or intermediary services.”
The FSCA continues to remind members of the public to always confirm that an entity or individual is registered with the FSCA to provide financial advisory and intermediary services and what category of advice it is that the entity is registered to provide. Customers who wish to conduct financial services with an institution or person can confirm whether they are registered with the FSCA beforehand on either their toll-free number (0800 110 443) or on https://www.fsca.co.za/Fais/Search_FSP.htm