BANK ONE
16, Sir William Newton Street
Port Louis, Mauritius
Communiqué
FSC Communiqué: Scams through Telegram
December 1, 2023
It has come to attention of the Financial Services Commission, Mauritius (“FSC”) that an entity by the name of Ashmore1992 has been soliciting the public through social media for online work. The tasks advertised allegedly consist of the provision of ratings/reviews on the items available on e-commerce platforms such Amazon, Ebay, Lazada and Shopee in return for a commission. The modus operandi for this scheme is through the Telegram application. A payment of a deposit is required to activate the account for accessing the scheme and for any further upgrade. It has also been reported that those who have subscribed to these schemes have lost their deposits. The FSC hereby urges the public to exercise caution when responding to these types of invitation since there may be underlying scams aimed to defraud the respondents. The public is advised to deal with only licensed entities.
The FSC wishes to highlight that Ashmore1992 and/or any other individuals or representatives or promoter groups operating under these names are not licensed or regulated by the FSC. The FSC is currently investigating this matter. Scammers are constantly finding new and sophisticated methodologies to build trust and dupe individuals. They are taking advantage of the explosive growth of social media over the recent years or such other online networks to create believable stories that will convince an individual to invest money or provide his/her personal information. The FSC wishes to inform the public that the schemes are illegal and unregulated. The public is invited to consult the FSC’s website where information has been provided on these types of scams. The public is urged to exercise prudence and to pay attention to the following red flags:
● Invitation to join schemes where there is quick income or returns;
● Investment of a sum of money with high returns/unrealistic profits in a short amount of time which cannot be possibly earned through legitimate activities;
● Emphasis on recruiting prospective investors in return for a commission/return; or
● Investment schemes that predominately exist on social media platforms but have little or no physical addresses.
Consumers of financial services are encouraged to seek independent advice prior to engaging in any investment activities and to consult the Register of Licensees available on the FSC website for persons/entities duly licensed/authorised/registered under the relevant Acts on the following link:
https://www.fscmauritius.org/en/being-supervised/register-of-licensees and/or to contact the FSC for more clarifications on [email protected].
29 November 2023
About the FSC
The FSC is the integrated regulator for the non-banking financial services sector and global business. The vision of the FSC is to be an internationally recognised Financial Supervisor committed to the sustained development of Mauritius as a sound and competitive Financial Services Centre.
In carrying out its mission, the FSC aims to promote the development, fairness, efficiency and transparency of financial institutions and capital markets in Mauritius; suppress crime and malpractices so as to provide protection to members of the public investing in non-banking financial products; and ensure the soundness and stability of the financial system in Mauritius.
Financial Services Commission
FSC House, 54 Cybercity
Ebene, 72201 Mauritius
T: (+230) 403-7000 F: (+230) 467-7172
E: [email protected]
www.fscmauritius.org