Following multiple complaints.
After issuing a press release warning the public about Immediate Matrix on 19 December 2023, the Financial Sector Conduct Authority has announced an investigation into Banxso for potential violations of financial sector laws. Banxso, an online trading group based in Cape Town allegedly involved in several deepfake scams associated with prominent business icons like Elon Musk and Johann Rupert, is authorised by the FSCA as a Category 1 financial services provider.
What’s going on with Banxso? The FSCA states that the investigation stems from multiple complaints it received regarding Banxso’s conduct, and it believes that the allegations warrant an investigation. The FSCA emphasises that the investigation is ongoing, and no conclusions have been reached thus far. It also emphasises that Banxso is fully cooperating with the investigation.
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