FSCA warns against using Vaultax Global trading platform

By Martin Hesse Time of article published Oct 19, 2021

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The Financial Sector Conduct Authority (FSCA) warns against dealing with Vaultax Global, which, according to information received, has been advertising on Telegram and offering trading in cryptocurrency, bond markets, and forex.

The FSCA says it has received information that Vaultax Global might be misrepresenting itself as an authorised financial services provider (FSP) by disseminating what appears to be fraudulent FSB (predecessor of the FSCA) and FSP certificates to the public. It is using the names of legitimate financial services providers, Westwood Insurance Brokers (FSP 16726) and Walkin Financial Solutions (FSP 45682), in order to appear to be offering legitimate financial services. The two providers have confirmed that they have no business relationship or involvement with Vaultax Global.

According to its website (https://vaultaxglobal.com/), Vaultax Global claims that it has headquarters in Finland, as well as a Branch office in the United Kingdom. On 13 August 2021 the British Columbia Securities Commission issued a public warning against Vaultax Global, saying it had reason to suspect that the company was offering investment services in Finland without appropriate authorisation.

You should always check that an entity or individual is registered with the FSCA to provide financial services and the category of advice it is registered to provide. Check beforehand with the FSCA on either the toll-free number (0800 110 443) or on the website, www.fsca.co.za.

PERSONAL FINANCE

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