JSE issues apology for the incorrect meta description on broker search

JSE Limited (“JSE) was alerted to an incorrect meta description automatically generated by search engines when searches relating to the JSE in relation to company information is performed. This resulted in the JSE’s awareness campaign relating to a cautionary pop-up on the JSE website regarding investment scams being displayed in search results.

The JSE has implemented technical measures to remedy the incorrect description.

We sincerely apologise for the error and in the event that you require any further information in respect of the remedial actions implemented or the JSE to clarify the incorrect search results, please contact [email protected].

 

The JSE Limited, its affiliates and subsidiaries (“JSE”) have noted a rise in the number of alleged scams and fraudulent activities, reported by members of the public. The JSE urges members of the public to exercise vigilance and to be cautious when interacting with entities and/or groups that purport to be the representatives of, or authorised by the JSE, especially when these entities make contact on social media platforms.

The JSE is a licensed exchange that regulates authorised JSE Members (brokers) and it does not interact directly with investors, nor does it offer investment opportunities to members of the public.

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What is a scam?

A scam is a dishonest or fraudulent scheme that is designed to mislead and deceive members of the public by making untrue and false statements and promises in an attempt to induce people to “invest” in these schemes. 

Types of scams

In the context of the JSE – the Scams are focused on business and investment fraud. Many scams entice investors with the promise of very high returns coupled with assurances that the investment is entirely safe or that there is a very low and unlikely risk of the promised high returns not being realised.  In many instances the fraudsters place pressure on investors by saying that time is of the essence and that the opportunity will be lost if the investor does not invest immediately.

Anti fraud awareness
Impersonation Scams

Fraudsters often impersonate organizations or individuals to lure victims into scams, often on social media platforms. They may impersonate JSE, JSE employees, or legitimate investment professionals like JSE Members by methods such as phone calls, voicemails, text messages, messages via social media (especially WhatsApp Groups), e-mails, letters, and certificates – all of which may falsely appear to be from the JSE.

Anti fraud awareness
Advance Fee Scams

The fraudsters will also place pressure on investors by asking for a large amount in cash in exchange for guaranteed future returns.

telemarketing scams
Telemarketing Fraud Scams

Scammers try to steal your money over the phone, whether by telling you they are an agent of the JSE, phoning on behalf of the JSE, or using some other approach.

How to Spot a Scam: Look out for these types of phrases

 

❌ “Become a millionaire in just 2 months.”

❌ “… If you give me R4700, I will turn them into R15000 without even getting up from the couch".

❌ “…You do not have to work at all. ..Why would a taxi driver, physician, policeman or school teacher go to work when they can earn way more money only using technology and five minutes of their time a day?"

❌ “..I will make a million in just 12-15 weeks”...If you do not withdraw your profit, the first million can be earned in a maximum period of 4 months”

❌ “Checking your balance and withdrawing your earnings is all you need to do.”

❌ “…It works faster and more accurately than a whole staff of professional investors. The main feature this platform has is that it can work automatically. The user does not need to do anything! “

❌ “I do not know how long this loophole will be free to use. I hope you use it before it is shut down. By the way, I heard that in a few days the registration on the platform will be paid so I recommend that you open an account right now".

How does the JSE deal with scams and fraudulent activities?

 

Insofar as the unauthorised use of the JSE’s name and trademarks is used in scams or fraudulent activities we actively report these to the social media platforms as unauthorised use of JSE trademarks for removal/takedown.

In instances where the JSE believes there is a contravention of the provisions of the Financial Markets Act, the JSE reports these to the Financial Conduct Sector Authority (FSCA) for investigation.

scam alert