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FSCA warns against Telegram scheme Sappi Online Investment

South Africa's FSCA warns that Sappi Online Investment, a Telegram scheme promising unrealistic returns, is unauthorised and is misusing Sanlam Life's FSP number 45741.

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Source: conviction.co.za · published

Illustration: Investing and crypto scams

What happened

Conviction.co.za reported on October 14, 2026 that South Africa's Financial Sector Conduct Authority (FSCA) warned the public to avoid Sappi Online Investment, also called Sappi Online.

The FSCA says Sappi Online is not authorised to provide financial services. It claims to be an authorised provider by quoting FSP number 45741, which actually belongs to Sanlam Life Insurance Ltd. Sanlam confirmed it is not linked to Sappi Online and does not use Telegram for business. The FSCA said it could not reach the operation using the details available.

How the scam works

The scheme uses Telegram to ask for money and promises unrealistic payouts. Quoting a real licence number belonging to a well-known insurer makes the offer look regulated to anyone who checks the number but not who it belongs to.

The FSCA urges caution with investment offers on social media and offers received without prior contact.

The FSCA lists general warning signs: unrealistic returns, offers made through social media, demands for upfront payments, requests for extra money to release investments, charges for training, pressure to pay quickly, and vague information about the product.

Source

Conviction.co.za, report on three FSCA warnings (October 14, 2026).

Red flags

  • An investment offer on Telegram promising high payouts.
  • A licence (FSP) number that, when checked, belongs to a different company.
  • Pressure to pay quickly.

If you were targeted

  1. 1Check whether a provider or person is authorised before doing business: call the FSCA toll-free on 0800 110 443.
  2. 2Do not send money to unverified individuals or organisations, including "fees" to release funds.
  3. 3Report suspected scams to the FSCA Ethics and Fraud Hotline on 0800 313 626, fsca@behonest.co.za or www.behonest.co.za.
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