Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Fraudulent activity

Reply
antoniog
Occasional Contributor
I would like to know what recourse one would have in the event that one lost a part(or entire) of one's portfolio from some form of fraudulent activity. Let's assume a staff member working for my stock broker fraudulently transfers my shares to another account and cashes out. Or a third party not working for the broker somehow managers to sell/transfers my shares. What recourse if any would I have? Is there any form of insurance that brokers take out to cover such events? Would it matter if the account is in my personal name, a trust or a company? I would appreciate any insight or referral to some info that I can read up on. Regards Louis
2 REPLIES 2
SimonPB
Valued Contributor
stock brokers and FSP have insurance (former via JSE) .. you complain to your broker compliance officer, if still not happy you complain to JSE, if still not happy try the FSB ..
antoniog
Occasional Contributor