FSCA warns against using Vaultax Global trading platform

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The Financial Sector Conduct Authority (FSCA) warns against trading with Vaultax Global, which, according to information received, has advertised on Telegram and offers exchanges in cryptocurrencies, bond markets and forex.

The FSCA says it has received reports that Vaultax Global could masquerade as an Authorized Financial Services Provider (FSP) by releasing to the public what appear to be fraudulent FSB (ancestor of the FSCA) and FSP certificates. It uses the names of legitimate financial service providers, Westwood Insurance Brokers (FSP 16726) and Walkin Financial Solutions (FSP 45682), in order to appear to offer legitimate financial services. The two vendors confirmed that they have no business relationship or involvement with Vaultax Global.

According to its website (https://vaultaxglobal.com/), Vaultax Global claims to have its headquarters in Finland, as well as a branch in the UK. On August 13, 2021, the British Columbia Securities Commission issued a public warning against Vaultax Global, saying it had reason to suspect the company was offering investment services in Finland without proper authorization.

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


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