The question for readers is simple: are messages on Telegram claiming to be from Fairtree Asset Management or its chief executive officer genuine? The Financial Sector Conduct Authority (FSCA) says they are not, warning that unknown individuals are impersonating the firm and its leader on the app, offering investment advice and asking for money through unauthorised accounts.
The alert matters because it shows how fraudsters are shifting to social platforms to exploit trusted brands. In South Africa, only authorised financial services providers may give investment advice or handle client funds, and the regulator’s statement makes clear these Telegram accounts have no link to Fairtree. The misuse of a prominent asset manager’s name heightens the risk that ordinary savers could be drawn into schemes that are neither supervised nor recoverable if things go wrong, and it underscores the growing need for firms to police their digital identities.
What happens next will hinge on whether the regulator or law enforcement pursues action against the impersonators and whether Fairtree publishes verified communication channels to help the public distinguish real from fake accounts. Watch for further FSCA updates, any parallel warnings about copycat scams on other messaging platforms, and confirmation from Fairtree about how it communicates with clients.
For more detail, read the full announcement.