The Financial Sector Conduct Authority (FSCA) has issued an urgent warning about a fraudulent investment scheme using deepfake videos of President Ramaphosa, Dr. Patrice Motsepe, Leanne Manas and Paul Mashatile to trick the public.
These scams promise daily profits of R13,000–R17,000 on a R4,500 investment: an unrealistic return that signals fraud.
The FSCA confirms these platforms are not authorised and may be stealing money from investors.
How the Scam Works:
-
Fake videos of Pres Ramaphosa and other leaders endorse the scheme.
-
Fraudsters use AI-generated deepfakes to appear legitimate.
-
No response when questioned by the FSCA—a major red flag.
How to Avoid Being Scammed:
- Check FSCA registration before investing.
- Never trust “guaranteed high returns”—they don’t exist.
- Be cautious of social media ads and unsolicited offers.
Verify Before You Invest:
-
Call FSCA: 0800 110 443
-
Search authorized entities: FSCA Regulated Entities
-
Check FAIS registration: FSP Search
Always confirm a company’s FSCA status, don’t fall for deepfake scams!
1 Comment
Mr President, Elon Musk, Patrice Motsipe and others must come public broadcast to announce this thing because people are being scammed under their names.
I have a question what makes them take so long to come in public???