Author: Tori Newby

A pensioner may have lost R1-million of his savings on financial company Banxso’s platform. The Financial Sector Conduct Authority (FSCA) suspended Banxso’s licence on 16 October and froze its bank accounts. The pensioner says he was enticed to invest by deepfake adverts, which the FSCA has since issued a warning against. Banxso denies any wrongdoing. Pensioner Norman (name changed) deposited hundreds of thousands of rand with an investment platform called Banxso. But Norman is worried he may never get his money back, after the Financial Sector Conduct Authority (FSCA) “provisionally withdrew” the company’s licence on 16 October, following months of complaints…