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The Financial Sector Supervisory Authority of South Africa (FSCA) warned investors against dealing with Binance

The Financial Sector Supervisory Authority of South Africa (FSCA) has urged local investors to be "cautious and vigilant" when dealing with the cryptocurrency exchange Binance:


FSCA Press Release September 3, 2021.
FSCA cautions public against BINANCE GROUP

The Financial Sector Supervisory Authority (FSCA) is warning the public to be cautious and exercise vigilance when dealing with BINANCE GROUP as they are not authorized to give any financial advice or provide any intermediary services under the Financial Advice and Intermediary Services Act 2002 (FAIS Act) in South Africa.

The FSCA has been informed that 
BINANCE GROUP, an international company based in the Seychelles, has a telegram group that members of the South African public can join to access their cryptocurrency exchange platform. The FSCA would like to caution that aside from the fact that this organization is not authorized to provide any financial services or business, cryptocurrency related investments are not currently regulated by the FSCA or any other body in South Africa. As a result, if something goes wrong, you are unlikely to get your money back and no one to turn to.

Members of the public should always check whether an entity or individual is registered with the FSCA to provide financial advisory and brokering services and what category of advice it is that the business is registered to provide. There are times when people are registered to provide basic advisory services for a low risk product and then offer services of a much more sophisticated and risky nature. 

The FSCA again reminds consumers who want to conduct financial services with an institution or person to check in advance with the FSCA toll-free number (0800 110 443) or as to whether such an institution or person is authorized to provide financial services, and in particular what financial products they are licensed for.

According to the notice, the company is not authorized to provide financial advice or intermediary services under local law. It urged investors to check whether an entity or individual is registered with the FSCA to provide advisory or financial services.

A large number of financial regulators have recently spoken out against Binance's illegal and illegitimate activities in their countries. Binance Casino has had little or no response to this and continues its criminal business.шаблоны для dle 11.2

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