FSCA issues public warning against Ifa Labantwana Bethu Investments
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The Financial Sector Conduct Authority (FSCA) warns the public to act with caution when dealing with Ifa Labantwana Bethu Investments (Ifa Labantwana) and Bongiwe Gana. The FSCA suspects Ifa Labantwana and Bongiwe Gana of conducting unauthorised financial services business and breaching various financial sector laws.
The FSCA received information that Ifa Labantwana and Bongiwe Gana are soliciting money from members of the public and promising them huge returns. The FSCA confirms that Ifa Labantwana and Bongiwe Gana are not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act), to render financial advisory and intermediary services.