QZ Asset management does not provide any evidence of its regulation and audit claims and it is also not registered or compliant in South Africa.
QZ Asset Management makes all of the necessary claims to make the company seem legitimate.
But when you look more closely, it is evident that none of these claims are substantiated and that the company is not registered and compliant in South Africa.
Is QZ Asset Management registered and compliant in South Africa?
These days, there are so many different financial service providers and schemes that it can be difficult to keep track of which are legitimate and which are not.
One company, by the name of QZ Asset Management, claims that it uses the power of artificial intelligence to optimize its asset management and trades.
At first glance, QZ Asset Management looks very legitimate. The company’s home page claims that it is regulated by the Asset Management Association of China (AMAC) and audited by KPMG.
However, upon further inspection, you will notice that these claims are not substantiated at all.
QZ Asset Management is not registered as a private business in South Africa (although another business by the name QZ Asset Management Customer Service Consultants, has been).
Furthermore, it is also not registered as an Authorised Financial Service Provider in the country.
QZ Asset Management’s unsubstantiated claims
Although QZ Management claims that it is regulated by the AMAC, it is important to note that the AMAC is a self-regulatory organization.
This means that it does not operate with the authority of the Chinese government and is responsible for establishing its own framework within the industry. For this reason, this claim does not carry much weight, either way.
The qzinvest.africa website also does not feature pages or links to any kind of reports that prove these claims, or the claims that the business has been audited by KPMG.
These claims do not match up to the international QZ Asset Management information
The claims that QZ Asset Management is registered and compliant in South Africa are made on a secondary qzinvest.africa website (which even states at the bottom that it “is not the official qzinvest.com website”).
The international version of the QZ Asset management website (https://www.qzinvest.com) does not, however, make any of these claims, which would be strange if it was all one company.
QZ Asset Management has already been exposed as a scam
Though the jury is still out on the international version of QZ Asset Management, the Non-Bank Financial Institutions Regulatory Authority (NBFIRA), which operates in Botswana, has already exposed this African version as a scam.
The international QZ Asset Management’s Facebook page has also put out an official disclaimer that it only has one true domain, “qzinvest.com”.
