16-07-2025
Financial watchdog battles surge in crypto scams
JOHANNESBURG - South Africa's financial regulator, the Financial Sector Conduct Authority (FSCA), is intensifying its crackdown on a growing wave of online scams.
Over the next 18 months, the FSCA will invest R200 million to strengthen its monitoring and enforcement capabilities including tighter supervision of the cryptocurrency sector.
Gerhard van Deventer, the FSCA's head of enforcement, warned the public to remain vigilant, saying there is no such thing as an investment that can legitimately double your money overnight.
