Investec Wealth (the impersonating entity)

This notice is issued by the Isle of Man Financial Services Authority (“the Authority”) in accordance with the powers conferred upon it under Section 30 of the Financial Services Act 2008.

Investec Wealth (“the impersonating company”)

accounts@investec-clients.com (“the email address”)

The impersonating entity is advertising deposit-taking business on social media. The Authority wishes it to be known that the impersonating entity is not regulated to conduct deposit-taking business, or any regulated or supervised activities in or from within the Isle of Man.

Additionally, from documentation held by the Authority, the impersonating entity and email address display warning signs of being set up for fraudulent purposes.

The Authority also wishes to confirm that the impersonating entity and email address are not connected in any way to the genuine entity Investec Bank (Channel Islands) Limited, which has a representative office in the Isle of Man or any other genuine Investec Group affiliate.

To offer the financial services and products mentioned within the social media posts by the impersonating company in or from the Isle of Man, would require them to be licensed or registered by the Authority.  The impersonating company is not licensed or registered with the Authority.  A list of all entities licensed or registered by the Authority can be found at:

https://www.iomfsa.im/register-search/

Under the circumstances, the Authority is concerned that any person who has replied to the aforementioned offerings may potentially become the victim of fraud, or it may be an attempt at gaining personal data from the browser in order to steal their identity.

General advice on how to avoid becoming a victim of identity theft and advanced fee frauds can be found on the Action Fraud website at http://www.actionfraud.police.uk/ID and http://www.actionfraud.police.uk/fraud-az-advance-fee-fraud respectively.

Any persons who are already involved in any dealings with the impersonating company should consider notifying their local Police, bringing to their attention the contents of this notice.

Anyone with general concerns concerning any individual or company holding themselves out as conducting a regulated activity in or from the Isle of Man without the requisite licence should contact the Enforcement Division at the Authority on +44 1624 689311 or by e-mail to enforcement@iomfsa.im for advice.

Authority Reference:  NR/06/2024 – 15 August 2024