FSCA warns against Platinum Financial Services and INV Centre

By Martin Hesse Time of article published Oct 29, 2021

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The Financial Sector Conduct Authority (FSCA) warns against two operators offering investment or trading services to the public which are unauthorised to do so. Neither entity is authorised to render any financial advisory and/or intermediary services in terms of the Financial Advisory and Intermediary Services Act.

• Advanced Software Solutions trading as INV Centre. INV Centre currently offers Contract for Differences (CFD) and forex trading to the public and promises withdrawal of profits in five working days.

• Platinum Financial Services Group. Platinum offers investments with a promised monthly return of 5%. It is also alleged that Platinum offers commission of 2% on all investment referrals.

The FSCA says it is highly likely that these companies are conducting unregistered business, which is a criminal offence.

The FSCA reminds customers wanting to conduct financial services with an institution or individual to check beforehand with the FSCA on either the toll free number (0800 110 443) or here whether or not such an institution or individual is authorised to render financial services.

PERSONAL FINANCE

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