Six alleged bogus investment scammers, together with 25 call-centre agents, were arrested on Tuesday, 27 January 2026, for contravening the Financial Advisory and Intermediary Services Act.
The suspects, aged between 38 and 61, were arrested in Johannesburg, Gauteng, during a multi-agency joint takedown operation.
Interpol, the Hawks, the South African Revenue Service Forensic Investigation team, and various banks contributed to the operation.
Standard Bank and First National Bank (FNB) were directly involved, with other banks participating through the South African Banking Risk Information Centre (SABRIC).
“Interpol IPSG based in Lyon, France, deployed a senior representative from its International Financial Crimes and Anti-Corruption Directorate,” the Hawks said in a statement.
This was under Interpol’s global Operation Jackal, which focuses on combating online scams and transnational financial crimes.
South African police teams involved included the Gauteng Hawks’ Serious Commercial Crime Investigation, Hawks’ Priority Crime Specialised Investigation, and Hawks’ Tactical Operations Management Section.
The Gauteng Tactical Response Team (TRT), Hawks Legal Services, Hawks Communication Services, Gauteng Crime Intelligence (CI), and Gauteng Local Criminal Record Centre (LCRC) were also involved.
“The arrests stem from an investigation initiated in 2022 by members of the Gauteng Hawks’ Serious Commercial Crime Investigation team,” they said.
“The investigation was triggered by statements provided by 43 victims from Australia.”
This enabled the Directorate for Priority Crime Investigation (Hawks), in collaboration with Interpol and international law-enforcement partners, to mount a coordinated operation.
“It is alleged that the syndicates advertised bogus investment opportunities through various social-media platforms, targeting victims who were close to retirement age,” they said.
Criminals specifically targeted those in possession of substantial savings who were seeking to grow and preserve their funds.
The suspects allegedly operated fraud “boiler-room” call centres, utilising call-centre agents to communicate with victims online.
“Victims were initially persuaded to make small online investments, which falsely reflected high returns,” the Hawks said.
“Communication between the agents and victims would then continue via platforms such as Skype, Messenger, Zoom and WhatsApp, until victims were convinced to invest larger sums of money.”
From Gauteng and the Western Cape to the world
The syndicates allegedly operated these illegal activities from Gauteng and the Western Cape and targeted several jurisdictions.
Victims were primarily identified in Australia, the United Kingdom, the United States of America, Canada, and New Zealand.
“It is further alleged that the syndicates registered multiple companies to facilitate the leasing of premises where the criminal activities were conducted,” police said.
“To conceal their operations, the suspects would allegedly change locations every three to six months, along with their registered company entities.” These entities were allegedly used to open banking facilities.
The syndicates allegedly used slick brand names, professional-looking logos, sophisticated websites, fictitious press releases, false marketing materials, and false testimonials to create the illusion of legitimate, lucrative investment platforms.
“As a result of these fraudulent activities, more than 40 victims were prejudiced, suffering losses amounting to undisclosed millions of rands,” the Hawks said.
“Investigations into the matter are still ongoing.”
The suspects are expected to appear before the Palm Ridge Specialised Commercial Crimes Court on Wednesday, 28 January 2026.
The Provincial Head of the Hawks in Gauteng, Major General Ebrahim Kadwa, commended the swift response and capability of the Directorate for Priority Crime Investigation.
He also commended the close collaboration between local and international law-enforcement agencies and private-sector partners.
Kadwa said that the joint effort successfully identified, detected and dismantled a transnational fraud syndicate operating within South Africa despite its victims being based abroad.
