AfriInvest & MutualWealth Scam Promises Fake R10K/Day

The Financial Sector Conduct Authority (FSCA) has issued a strong warning against dealing with AfriInvest and MutualWealth, two entities illegally soliciting investments with false promises of R10,000 daily returns through AI-driven crypto trading.

Key concerns:

• No FSCA authorisation: Neither company is licensed to provide financial services in South Africa.
• False celebrity endorsements: They fraudulently used Steve Hofmeyer, Kallie Kriel, and Maroela Media’s names, all have denied any involvement.
• Unrealistic returns: Claims of R10,000/day profits are highly suspicious and likely fraudulent.
• No contact possible: The FSCA could not reach AfriInvest or MutualWealth for comment.

How to protect yourself:

Verify Authorisation – Check if a provider is FSCA-approved via:

Beware of Social Media Scams – Avoid unsolicited investment offers promising high returns.
Check FSP Numbers – Ensure the provider’s details match the FSCA database.

Final warning:

Never invest with unregistered entities—always confirm legitimacy before sending money. Stay vigilant and report suspicious schemes to the FSCA immediately.

🔗 For more info, visit www.fsca.co.za