<ul data-eligibleForWebStory="false"><li>South Africa's Financial Sector Conduct Authority is allocating R200 million to enhance its capabilities in combating online scams.</li><li>The investment will focus on strengthening monitoring, enforcement, and recruiting experts, particularly in crypto supervision, to combat crypto-related scams.</li><li>South Africa has seen a significant increase in online scams, with the FSCA aiming to increase its staff to the mid-700s to address the rising challenges.</li><li>Despite a decline in fines imposed compared to the previous year, the FSCA views its enforcement actions as successful, serving as a deterrent to fraudulent activities.</li></ul>

FSCA beefs up to take down online scams

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