Scam Watch · Checked 24 Oct 2026
Scam Watch: forex and investment scam warnings in South Africa and Kenya
62 companies, platforms and fake groups named by the FSCA (48) and the CMA (14), plus live alerts from regulators around the world. Search before you send money to anyone.
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Recently added to Scam Watch
The newest entries from the weekly check of FSCA and CMA warnings. Also in our feed.
All regulator warnings
Scam Watch lists 62 companies, platforms and groups named in official warnings: 48 from the FSCA in South Africa and 14 from the CMA in Kenya. The most recent addition, on 24 Oct 2026, is Sappi Online Investment (FSCA warning).
Newest first. We list companies and groups only, never private people, and always link to the warning.
62 entries
FSCA warning Sappi Online Investment
Used FSP number 45741, which belongs to Sanlam Life Insurance, to look authorised, and promised unrealistic payouts.
FSCA warning Fake Mattercap Investments Telegram group
A Telegram group pretended to be the authorised firm Mattercap Investments (FSP 53672) to solicit investments. Mattercap says it has no link to the group.
FSCA warning Geefx (Pty) Ltd
Used to solicit investment money from the public without authorisation.
FSCA warning Quilta FX Trade
Claimed to be an authorised financial services provider and offered to trade Bitcoin and other crypto assets.
FSCA warning Maivest
Online platform offering investment opportunities, copy trading, referral rewards and team incentives without authorisation.
FSCA warning Ampfa
Solicited money for forex trading and a “trading robot”, offered to trade for clients and claimed to be authorised.
FSCA warning Credora FX
Solicited money for investment through its website without authorisation.
CMA warning CBEX
Named by the CMA as operating without a licence. Promised 100% returns in 30 days through “AI trading”; it also faced enforcement in Nigeria.
CMA warning Global Investment Group (GIG)
Named by the CMA among 15 platforms soliciting funds in Kenya without a licence.
CMA warning QVSE
Named by the CMA among 15 platforms soliciting funds in Kenya without a licence. Its US registration covers money services, not share trading.
CMA warning Kore Exchange
Named by the CMA among 15 platforms soliciting funds in Kenya without a licence.
CMA warning Abacus Wealth Management
Named by the CMA among 15 platforms soliciting funds in Kenya without a licence.
CMA warning “Brown Advisory Group” (Kenya)
Named by the CMA among 15 platforms soliciting funds in Kenya without a licence.
CMA warning B Invest
Named by the CMA among 15 platforms soliciting funds in Kenya without a licence.
CMA warning Bitblock Capital Limited
Named by the CMA among 15 platforms soliciting funds in Kenya without a licence.
CMA warning Maliwave Investments
Named by the CMA among 15 platforms soliciting funds in Kenya without a licence.
CMA warning Monetrix Capital Investments
Named by the CMA among 15 platforms soliciting funds in Kenya without a licence.
CMA warning Twenty-four Hours Pro expert Trader
Named by the CMA among 15 platforms soliciting funds in Kenya without a licence.
CMA warning Wealth Sharing Group (Opticoin)
Named by the CMA among 15 platforms soliciting funds in Kenya without a licence.
CMA warning Ultima Cryptocurrency
Named by the CMA among 15 platforms soliciting funds in Kenya without a licence.
CMA warning Lukman-trust fund
Named by the CMA among 15 platforms soliciting funds in Kenya without a licence.
FSCA warning TRDFX
Offered investment opportunities while claiming a link to the authorised firm AFK Capital, which says it has no association with TRDFX.
FSCA warning Fake JustMarkets WhatsApp group
A WhatsApp group pretended to be Just Global Markets (JustMarkets, FSP 51114) to solicit investments. The real firm says it has no link to the group.
FSCA warning Fake Citadel Investment Services Telegram profiles
Telegram profiles pretended to be Citadel Investment Services (FSP 547) to solicit investments.
FSCA warning Fake Smartvest Telegram group
A Telegram group used the name of Smartvest Financial Services (FSP 52449) to promise unrealistic returns.
FSCA warning Fake PFS Wealth Management Telegram profile
A Telegram profile used the branding of PFS Wealth Management (FSP 18877) to solicit funds.
FSCA warning Bearer Shares
Solicited funds for crypto and trading without authorisation. The FSCA could not reach it.
FSCA warning KessTrades
Solicited funds for crypto and trading without authorisation. The FSCA could not reach it.
FSCA warning Harbor Stone FX
Solicited funds for crypto and trading without authorisation. The FSCA could not reach it.
FSCA warning Fast Profit Income
Solicited money for crypto and forex trading, promising returns of up to 200% of the first investment. Not authorised.
FSCA warning “Fairtree Capital Ltd” Telegram group
Used the name, branding and CEO details of Fairtree Asset Management (FSP 25917) to solicit funds.
FSCA warning Fake Prime Investments Telegram group
Used Prime Investments' name, branding and staff photos to promote Bitcoin mining, binary options and account management.
FSCA warning Fake PWM Wealth Management Telegram group
Used the name and logo of PWM Wealth Management (FSP 51323) to promote trading strategies.
FSCA warning Money Mates
Used Bidvest Insurance branding to promote vehicle warranty products. Bidvest says it is not affiliated.
FSCA warning Omne Digital Wealth Management Solutions
Not authorised to provide financial services; linked to solicitation of crypto asset investments.
FSCA warning Elite Krypto Hub
Reportedly solicited funds for crypto investments. The FSCA could not contact it.
FSCA warning JRL Forex Institute (Pty) Ltd
Promoted account management and forex trading on Instagram without authorisation.
FSCA warning Duke Global Funding
Pretended to be the FSCA and its Commissioner, telling victims their transactions were flagged and asking for “resolve” fees.
FSCA warning Forex Major
Offered copy trading without the required licence.
FSCA warning Nasper Capital
Used the FSP number of Trade Nation Financial to promote Bitcoin investments.
FSCA warning Vixheim Trading (Pty) Ltd
Offered trading services and promised unrealistic returns while unlicensed.
FSCA warning SPO Trading Ltd
Posed as a representative of FiveWest OTC Desk and used non-existent FSP credentials to solicit investments.
FSCA warning Fast Track Global Trade
Promoted plans with daily returns of up to 98% and charged a 15% fee on profits to process withdrawals.
FSCA warning Fake Rhynco Wealth Management Telegram groups
Used Rhynco Wealth Management's branding and its CEO's identity to promote crypto investments.
FSCA warning Fake Quantum Wealth Management Telegram groups
Used Quantum Wealth Management's identity to promise unrealistic returns within 48 hours.
FSCA warning Forex Venus SA
Recruited investors on Facebook, promised unrealistic returns and offered unlicensed trading services and signals.
FSCA warning Neo Forex Institute
Allegedly sold forex signals without authorisation; the FSCA received several complaints.
FSCA warning Fake BDSwiss Telegram representatives
Pretended to represent BDSwiss Markets SA (FSP 49479) and offered “100% guaranteed” returns. BDSwiss says it does not operate on Telegram.
FSCA warning TradonaFXOnline
Allegedly offered crypto investments with “guaranteed” returns of up to 3,150% and demanded extra payments before releasing funds.
FSCA warning Alpha Forex (Pty) Ltd
Offered financial services without authorisation.
FSCA warning FX-Digital
Offered financial services without authorisation.
FSCA warning Binelite Pro
Offered financial services without authorisation.
FSCA warning Coinskillshub
Offered financial services without authorisation.
FSCA warning AGX Zen
Offered financial services without authorisation.
FSCA warning Alpha Wave Pro
Offered financial services without authorisation.
FSCA warning Immediate Edge
Offered financial services without authorisation.
FSCA warning Titanstrades
Offered financial services without authorisation.
FSCA warning Forex Knights
Offered financial services without authorisation.
FSCA warning Bestgradeoptions
Offered financial services without authorisation.
FSCA warning Instaforex (in South Africa)
Listed by the FSCA as offering financial services in South Africa without FSCA authorisation.
FSCA warning FX Trading Revolution LLC
Solicited money with promises of guaranteed monthly returns of 10%. Not licensed.
FSCA warning Fake Brandes Investments WhatsApp group
Falsely claimed to represent Brandes Investments and promised R6,000 from a R2,500 investment.
Live: latest warnings from regulators and the press
From SEC Nigeria, the US SEC and news reports on FSCA and CMA warnings. Refreshed every 6 hours.
- Nigeria · SEC Nigeria · 10 Oct 2026SUSPECTED FRAUDULENT ACTIVITIES OF WAYVEPAY
- South Africa · Moonstone Information Refinery · 8 Oct 2026Warning over RE certificates bearing FSCA’s and Moonstone’s branding
- Kenya · Kenyans.co.ke · 23 Sept 2026Two Women Charged Over Fraudulent Investment Scheme Targeting Kenyans
- Kenya · Capital FM Africa · 22 Sept 2026CMA warns Kenyans against unauthorised Dangote Refinery IPO offers
- Kenya · The Star, Kenya · 21 Sept 2026CMA warns Kenyans against Dangote Refinery IPO scams
- Kenya · Business Daily · 13 Sept 2026CMA warns against investments in 15 illegal funds
- Kenya · Cryptonews.net · 13 Sept 2026CMA Kenya Issues Warning Against Investment Scams
- Kenya · The Kenyan Wallstreet · 12 Sept 2026CMA Flags 15 Unlicensed Investment Schemes in Kenya
- South Africa · Moneyweb · 23 Jun 2026FSCA warns of sophisticated scam using regulator’s identity
- South Africa · News24 · 5 Jun 2026WARNING | Beware deepfake dupes impersonating News24 finance journalists ‘Maya and Bruce’
- South Africa · Moonstone Information Refinery · 21 May 2026FSCA warns of Telegram groups impersonating financial firms
- Nigeria · SEC Nigeria · 14 May 2026Public notice - unregistered online investment schemes
- South Africa · Moneyweb · 5 Mar 2026FSCA warns against PSG Invest impersonator
- Nigeria · SEC Nigeria · 30 Jan 2026Suspected Fraudulent Activities Of Aurum Bot
- Nigeria · SEC Nigeria · 30 Jan 2026Suspected Fraudulent Activities Of Modmount Services Limited
- South Africa · Moonstone Information Refinery · 22 Jan 2026FSCA issues multiple public warnings about unauthorised operators
- Nigeria · SEC Nigeria · 18 Oct 2025Illegal Operator Alert - Shalom Coin (SHLM)
- Nigeria · SEC Nigeria · 20 Aug 2025Illegal Operator Alert – GVEST GLOBAL /GVEST (ALAUSA) COOPERATIVE MULTIPURPOSE LIMITED/GVEST INVESTMENT LIMITED/GTEXT HOLDINGS
Check the official warning lists worldwide
Many scams that target Africa were flagged abroad first. Search the name on these lists too.
- GlobalIOSCO I-SCAN
Alerts from securities regulators worldwide in one search
- South AfricaFSCA news and warnings
Financial Sector Conduct Authority
- KenyaCMA licensed forex brokers
Capital Markets Authority: if a broker is not here, it is not licensed
- NigeriaSEC Nigeria enforcement updates
Illegal operator alerts
- United KingdomFCA Warning List
Financial Conduct Authority: unauthorised firms and clones
- Cyprus / EUCySEC warnings
Cyprus regulator: many brokers serving Africa hold this licence
- Cyprus / EUCySEC non-approved domains
Websites falsely using a CySEC licence
- AustraliaASIC investor alert list
Australian regulator: unlicensed and cloned firms
- United StatesCFTC RED List
Foreign firms illegally soliciting forex and binary options
- United StatesSEC investor alerts
US Securities and Exchange Commission
Watch: how these scams work
Opens the latest videos on YouTube. Prefer clips from regulators and news channels; ignore anyone selling signals or “recovery” services.
- ▶ YouTubeFSCA warnings explained
- ▶ YouTubeCMA Kenya on unlicensed forex brokers
- ▶ YouTubeFake signal groups on WhatsApp and Telegram
- ▶ YouTubeDeepfake investment adverts
- ▶ YouTubePay-to-withdraw tricks
- ▶ YouTubeNigeria: SEC illegal operator alerts
Beware of “fund recovery” videos and agents promising to get your money back for a fee. Regulators warn that many are a second scam.
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Questions about Scam Watch
Where does this list come from?
Only from public warnings by the FSCA in South Africa and the CMA in Kenya. Each entry links to the report of the warning, with the date.
A company is not on the list. Is it safe?
Not necessarily. Regulators only warn about firms they hear about. Check that the company holds a licence in your country before you deposit.
Why do you list fake groups that use real company names?
Scammers copy real, licensed firms on Telegram and WhatsApp. The real firm is not the scammer, so we name the group as an impersonation of it.
How often is it updated?
We check the regulators every week. Last check: 24 Oct 2026. The live feed on this page refreshes every few hours.
Learn the red flags in our forex scam guide →