- Beware of investment offers promising unrealistic profits, especially those circulated on social media and messaging platforms.
- Always check if a company or individual is licensed by the FSCA before engaging or sending funds, use the FSCA’s toll-free number (0800 110 443) or online search tools.
- Steer clear of schemes requiring upfront fees for access, training, or “unlocking” returns, and treat urgent, high-pressure offers with suspicion.
South Africa’s financial landscape is increasingly threatened by unauthorised investment operators who prey on public trust, disguise risk as opportunity, and disappear when challenged.
In its latest series of warnings, the Financial Sector Conduct Authority (FSCA) has flagged three entities, Skuriey.rsa, AMFX Solutions, and Dazzle Brilliance Diamond as examples of how social media and direct messaging platforms are being weaponised to lure unsuspecting investors into high-risk, unregulated schemes.
Signal scams and Telegram trades: The case of Skuriey.rsa
Lucas Sekhorane Maake, operating as Skuriey.rsa on Telegram, has come under FSCA scrutiny for offering forex signals and account management services without regulatory authorisation. According to the FSCA, Maake solicits public funds by proposing to trade on clients’ behalf in exchange for 50% of the profits.
While signal provision is a known practice in financial markets, it is often abused, with providers benefitting from broker commissions even when clients incur losses. The FSCA warns that fictitious signals and manipulated trading patterns frequently lure unsuspecting investors. Maake failed to respond to regulatory enquiries and is not registered under any financial sector law in South Africa.
AMFX Solutions and the 300% illusion
In a separate alert, the FSCA flagged Michael Jacobs and AMFX Solutions for promoting investment schemes that promise “300% profit monthly for six months.” Such exaggerated returns are a classic red flag, often used to entice victims into fraudulent operations, the FSCA said.
Neither Jacobs nor AMFX Solutions is authorised to provide financial services, and both were unavailable for comment. The FSCA reiterates that legitimate financial service providers must display their authorisation status clearly. Offers made via social media, especially those demanding urgent action or upfront payments, should be treated with suspicion.
Dazzle Brilliance Diamond: Glittering promises, no licence
Dazzle Brilliance Diamond (Pty) Ltd is the third entity named in the FSCA’s October 2025 warnings. The company reportedly encourages the public to “Invest R2500 and receive R6000 in 40 days,” a proposition that defies market logic and regulatory norms.
Like the others, Dazzle is not authorised to offer financial services and failed to respond to FSCA queries. The regulator emphasises that fraudsters often disguise illegal operations as legitimate businesses, making it imperative for the public to verify credentials before engaging.
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