JSE fraud syndicate warning

The Johannesburg Stock Exchange (JSE) has warned investors about a fraudulent syndicate using the name Octodec Invest Ltd. to scam individuals. 

Octodec Invest falsely claims to be associated with the JSE on an unauthorised platform called “AIJSE” to offer fraudulent investment and trading schemes. 

The syndicate also engages in the unauthorised use of JSE and other market participants’ names and registered trademarks.

In this case, the fraudulent syndicate used the name of Octodec Investments, a legitimate real estate investment trust (REIT) listed on the JSE.

The unauthorised use of the Octodec name was used to scam investors into believing that it is a legitimate investment platform linked to the JSE. Neither the syndicate nor the AIJSE platform is linked to the JSE in any way. 

These types of groups are not authorised by the JSE, and the investments referred to are not authorised or endorsed by the exchange.

The JSE reported the unauthorised use of this name and activities to the Financial Sector Conduct Authority (FSCA). The regulator has issued a press release warning the public about this syndicate and the unauthorised use of Octodec’s name.

The JSE reminds the public that the only way to invest on the stock exchange is through a licensed JSE Member or Stockbroker. 

Any other platform or group claiming association with the JSE is unauthorised, and the investments offered are not approved or endorsed by the stock exchange.

Members of the public are urged to remain vigilant when receiving any investment offers, communications, or invitations that claim association with the JSE or Octodec Invest Ltd. 

In particular, the stock exchange warned against messages received on social media, messaging apps, or unfamiliar online platforms or any other channels where the JSE’s name or trademarks may be misused.

To protect yourself from such scams, the JSE advised individuals to –

• Be cautious of any investment offers on the AIJSE platform.
• Do not provide personal information or make payments to any entity claiming association with the JSE without verification.
• Report suspicious activity or misuse of names/trademarks directly to the JSE website, on 011 520 7000, [email protected], or [email protected], and via each social media’s fraud reporting channels. 
• Verify authorised financial institutions using the FSCA toll-free number: 0800 110 443 or online via the FSCA website.

For a verified list of authorised stockbrokers, investors can visit the ‘Find a Broker’ section on the official JSE website.

The FSCA has previously warned South Africans not to deal with Octodec Invest Ltd in any way due to its unauthorised use of the JSE’s name.