CashFX Group has received a securities fraud warning form South Africa’s Financial Sector Conduct Authority.

As per the FSCA’s warning, CashFX Group

is not authorised to give any financial advice or render any intermediary services in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act).

CFX is not regulated by the FSCA and are not registered to give financial advice in South Africa.

This is the equivalent of a securities fraud warning in other jurisdictions.

Owing to CashFX Group committing securities fraud in South Africa, the FSCA
‘warns the public against doing any financial services business with’
it.

At the time of publication Alexa ranks South Africa as the third largest source of traffic to CashFX Group’s website (11%). Australia (21%) and the US (13%) are respectively the top two.

BehindMLM
reviewed CashFX Group
in July 2019. Based on its business model we concluded it was a Ponzi scheme.

CashFX Group stopped withdrawals in late May. Affiliate investors continue to go unpaid, with CashFX Group recently
threatening anyone who complains
with account termination.

South Africa is the fourteenth jurisdiction to issue a securities fraud warning against CashFX Group.

The FSCA’s warning follows similar regulatory action by
the Philippines
,
Belgium
, 
New Zealand
, 
Jersey
, Canada (
New Brunswick
,
Manitoba
,
Saskatchewan
,
Quebec
and
British Columbia
),
Panama
, 
the Bahamas
, 
Norway
 and 
the UK
.

On information and belief owner Huascar Lopez operates CashFX Group from the Dominican Republic.

To date authorities in the Dominican Republic have failed to take action against Lopez or his co-conspirators.

🤖 Quick Answer

What securities fraud warning did CashFX Group receive from South Africa's FSCA?
The Financial Sector Conduct Authority issued a warning against CashFX Group for operating without authorization in South Africa. The company lacks FAIS Act registration and is not regulated by the FSCA to provide financial advisory or intermediary services, prompting public warnings against conducting business with it.

Why did the FSCA issue this warning against CashFX Group?
CashFX Group operated illegally in South Africa by providing financial services without proper authorization or registration under the Financial Advisory and Intermediary Services Act. The company engaged in securities fraud by offering regulated services without obtaining required regulatory approval from the FSCA.

Which countries represent the largest traffic sources to CashFX Group's website?
According to Alexa rankings at publication time, Australia generated the highest traffic at 21%, followed by the United States, with

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