The Hawks have dismantled a major transnational investment fraud operation following the arrest of six alleged scam masterminds and 25 call-centre agents in Gauteng.
The suspects, aged between 38 and 61, were arrested on Tuesday, 27 January 2026, during a coordinated operation involving multiple Hawks units, INTERPOL, major banks and international law-enforcement partners. They face charges related to contraventions of the Financial Advisory and Intermediary Services (FAIS) Act.
Authorities say the syndicate ran sophisticated “boiler-room” call centres from Gauteng and the Western Cape, using social media, professional-looking websites and fake investment platforms to lure victims. Targets were mainly individuals nearing retirement and holding significant savings.
Victims were initially encouraged to make small online investments that appeared to yield high returns. Communication then continued via platforms such as WhatsApp, Skype and Zoom, persuading victims to invest increasingly larger amounts. More than 40 victims — primarily from Australia, the UK, the US, Canada and New Zealand — reportedly suffered losses amounting to undisclosed millions of rands.
The investigation, launched in 2022 after statements from 43 Australian victims, led to the identification of multiple front companies allegedly used to lease premises, open bank accounts and conceal criminal activities. The syndicate is believed to have regularly changed locations and company registrations to evade detection.
The suspects are expected to appear before the Palm Ridge Specialised Commercial Crimes Court on Wednesday, 28 January 2026, as investigations continue.
Gauteng Hawks head Major General Ebrahim Kadwa praised the swift operation and strong international cooperation, highlighting it as a significant blow to online financial crime syndicates operating from South Africa.
About The Author
