| Bogus investment scammers arrested | |
|---|---|
| Date Published | |
| 2026/01/27 | |
| Details | |
Media Statement GAUTENG - Six alleged bogus investment scammers, together with twenty-five (25) call-centre agents, were arrested on Tuesday, 27 January 2026, for contravening the Financial Advisory and Intermediary Services Act (FAIS Act) 37 of 2002. The suspects, aged between 38 and 61, were arrested in Johannesburg, Gauteng, during a joint takedown operation conducted by members of the Gauteng Hawks’ Serious Commercial Crime Investigation, Hawks’ Priority Crime Specialised Investigation, Hawks’ Tactical Operations Management Section (TOMS), Gauteng Tactical Response Team (TRT), Hawks Legal Services, Hawks Communication Services, Gauteng Crime Intelligence (CI), Gauteng Local Criminal Record Centre (LCRC), SARS Forensic Investigation, INTERPOL, the South African Banking Risk Information Centre (SABRIC), Standard Bank and First National Bank (FNB). Notably, INTERPOL IPSG based in Lyon, France, deployed a senior representative from its International Financial Crimes and Anti-Corruption Directorate under INTERPOL’s global Operation JACKAL, which focuses on combating online scams and transnational financial crimes. The arrests stem from an investigation initiated in 2022 by members of the Gauteng Hawks’ Serious Commercial Crime Investigation team. The investigation was triggered by statements provided by forty-three (43) victims from Australia, which enabled the Directorate for Priority Crime Investigation (DPCI), in collaboration with INTERPOL and international law-enforcement partners, to mount a coordinated operation. It is alleged that the syndicates advertised bogus investment opportunities through various social-media platforms, targeting victims who were close to retirement age and in possession of substantial savings, seeking growth and preservation of their funds. The suspects allegedly operated fraud “boiler-room” call centres, utilising call-centre agents to communicate with victims online. Victims were initially persuaded to make small online investments, which falsely reflected high returns. Communication between the agents and victims would then continue via platforms such as Skype, Messenger, Zoom and WhatsApp, until victims were convinced to invest larger sums of money. The syndicates allegedly operated these illegal activities from both Gauteng and the Western Cape. The criminal activities spanned several jurisdictions, with victims primarily identified in Australia, the United Kingdom, the United States of America, Canada and New Zealand. It is further alleged that the syndicates registered multiple companies to facilitate the leasing of premises where the criminal activities were conducted. To conceal their operations, the suspects would allegedly change locations every three to six months, along with their registered company entities. These entities were also allegedly used to open and operate banking facilities. The syndicates are further accused of using slick brand names, professional-looking logos, sophisticated websites with client login portals, fictitious press releases, fabricated marketing material and false testimonials to create the illusion of legitimate and lucrative investment platforms. As a result of these fraudulent activities, more than forty (40) victims were prejudiced, suffering losses amounting to undisclosed millions of rands. Investigations into the matter are still ongoing. The suspects are expected to appear before the Palm Ridge Specialised Commercial Crimes Court on Wednesday, 28 January 2026. The Provincial Head of the Hawks in Gauteng, Major General Ebrahim Kadwa, commended the swift response and capability of the Hawks, as well as the close collaboration between local and international law-enforcement agencies and private-sector partners, in successfully identifying, detecting and dismantling a transnational fraud syndicate operating within South Africa despite its victims being based abroad. Ends
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