FSCA warns consumers about Richard Ma Out Ton and Josix

The Finance Department of Finance (FSCA) has issued a public warning against Richard Mautan, who invites people to invest in the online business platform, Josix. The FSCA said he was not registered to provide financial services. Josix offers more than 50% of income in a few days.

The FSCA warns that the public is cautious when conducting a financial service business with Josix and Richard Maten.

With the promises of unrealistic income, members are recruited through WhatsApp groups and Instagram advertising. FSCA says that Josiats requires minimum deposit R1 000 to R10 000, with the promise of more than 50% profit within a few days.

The FSCA warns you to look at the unrealistic income with great suspicion. The Authority could not contact Josix and Richard Mowton to comment.

“Although the FSCA has not commented on the exclusives of Josix and Richards, Richard Maa Out, it should be noted that Joslix and Richard Out Tun are not approved by any financial services to provide financial services to the public in South Africa.”

Read: FSCA warns against providing 40% of income per week

M is not connected to ton and jossics JSE

The FSCA claims that Johannesburg is associated with the Stock Exchange (JSE) and says that Josix is ​​false. JSE warned that Richard Maten and Josix were involved in the impersonation of JSE and individuals.

“The Out Ton and Josix are not recognized by the JSE, and no investments or applications are JSE.

Josix’s Out Ton in International Stock Revenue?

Study To gasolineA website describing himself as “a leading medium and data technology site dedicated to improving the next generation of investors”, “Out Ton” is a renowned stock analyst and the eldest in the South African financial market “. It also stated that “South Africa’s representative confirmed that he participated in the global share revenue competition.”

According to the article, as an investor in the article, “is recognized for exceptional contributions for market stability and development” and his involvement “enhance the country’s financial reputation worldwide”.

Read: FSCA imposed a fine of about R943 million and dismissed 156 people

Complaints about Mutton and Josix

However, the Internet is not just good stories about Mautton and Josix. Someone in a Facebook group asked against the fraudsters, someone knows about Richard Ma Out, and he is involved in the competition with brokers from other stock markets.

This person wrote that within two months, the income was already more than 800%, but when he wanted to withdraw his funds, he was told that he had to pay a 10% tax. When he was asked to whom the tax was paid, his financing was subject to his “income compatible and meet the international tax requirements” to ensure that his funds are subject to future tax claims and do not comply with global tax rules.

He noted that when you accumulated more than 800% of income, 10% tax is larger than your initial investment. The broker’s statement received by this person: “Good evening for everyone! I am JSE’s international stock market analyst Richard Mautton. Currently, I am participating in the International Stock Revenue Competition. My job is to offer stock trading advice for all, to make a profit in the market and charge a reasonable fee for my services. ”

Read: FSCA’s regulatory activities shows the number of report enforcement

To avoid unnecessary risk with unregistered persons and companies

To avoid unnecessary risk, the FSCA states that consumer financial advice, assistance or investment offers should not be accepted from individuals or FSCA unauthorized companies. Authorized financial service providers must clearly show their accreditation status in their documents. If this is not the case, you should inquire further before any payment.

In addition, FSCA warns that consumer should be cautious when considering investing or trade offers or unsolicited offers on social media. FSCA recommends you to verify:

• Including recommendations on how to invest and how to invest in a company or individual FSCA to provide financial products and services;
• Since companies or people are registered events to provide basic advice to low risk product, the person has been registered to provide any kind of advice, and then offers advice on more complex and dangerous products;
• The used FSP number matches the name of the registered FSP in the FSCA database.

To someone who claims to be a financial service provider’s status and FSP number, you can call the FSCA’s toll free number on 0800 110 443, or an online search for a recognized financial institution by licensing type Here.

You can also make an online search for financial institution that is a recognized FSP based on the FAIS Act Here.