The Financial Sector Conduct Authority (FSCA) has issued an alert regarding individuals impersonating Brokstock SA (Pty) Ltd, an authorised Financial Services Provider (FSP No. 51404).
Fraudulent Activity Details
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Scammers: Zibu Masotobe Sibiya (WhatsApp: +27717684632) and Mike Mabuyakhulu (WhatsApp: +27794293027)
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Platforms: Operating via Telegram and WhatsApp groups named “Brokstock Beginner/s”
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Fake Banking Details:
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Account Name: Brockstockshares
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Bank: FNB
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Account Number: 62871907790
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Email: [email protected]
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These fraudsters are luring victims to deposit funds into their fraudulent account under false pretenses.
“Brokstock SA has confirmed these individuals are NOT associated with them, and any claims otherwise are entirely false,” the FSCA stated.
How to Protect Yourself
The FSCA urges the public to:
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Verify FSP authorization before investing—check the FSCA database.
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Confirm the FSP number matches the company name on official records.
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Be wary of unsolicited investment offers on messaging apps like WhatsApp or Telegram.
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Cross-check banking details—legitimate FSPs never share payment info via public channels.
How to Verify a Financial Service Provider
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Call: FSCA toll-free 0800 110 443
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Online Search:
The FSCA warns that financial scams via social media are increasing—always verify before investing.
