This notice is issued by the Financial Services Authority of Seychelles ("FSA") drawing attention to the following user accounts on the instant messaging service ‘Telegram’:
- ‘@Adt034’
- ‘@Capitalix_receptionist’
- ‘@CapitalixDataTutor028’
- ‘@Capitalix88888’
At this juncture, please note that the persons affiliated with the above-mentioned user accounts are not linked to any entity licensed or regulated by the FSA in any capacity despite claiming otherwise.
The FSA hereby advises that no person shall carry on business in Seychelles dealing in securities, or hold himself out as carrying on that business and/or carry on business in Seychelles as a representative of a securities dealer or a representative of an investment advisor, or hold himself out as carrying on such business, unless that person is licensed to do so by the FSA or holds an exemption issued by the Authority to be an overseas securities dealer. Any person who carries on business requiring the grant of a licence, without holding such a licence, commits an offence and is liable on summary conviction -
- in the case of an individual, to a fine of UD$100,000 or the equivalent in Seychelles rupees or to imprisonment for two years or to both;
- in the case of a company, to a fine of US$200,000 or the equivalent in Seychelles rupees, and if the offence is a continuing offence, the individual or company is liable to a further fine not exceeding US$500 or the equivalent in Seychelles rupees for every day that the offence continues after conviction.
Furthermore, the FSA Seychelles urges investors and members of the public to exercise adequate research and evaluation on an entity, service providers, and representatives prior to conducting business and/or performing any transactions involving money exchanges or exchanges of personal details. The FSA also reminds the public that the Authority shall not be held liable should persons continue to maintain client relationship, or uses services provided with or by the suspected fraudulent service providers.
Financial Services Authority