Public Notice – Caution Against Unauthorised Financial Services Provider: Altvecto Online Crypto Platform (Ältvecto)

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) hereby cautions members of the public to exercise extreme vigilance when dealing with Altvecto Online Crypto Platform (Ältvecto). It has come to the attention of the Authority that promotional material relating to Altvecto is being circulated on online platforms accessible to and targeting Batswana.

Altvecto is not licensed or authorised by NBFIRA to conduct regulated financial services business in Botswana. The entity is not registered as a financial services provider and holds no authorisation to solicit, receive or manage funds from members of the public in Botswana.

Accordingly, NBFIRA warns members of the public to exercise caution when engaging with Altvecto, or with any promotional material relating to its cryptocurrency, virtual asset online platform or investment opportunities associated with the entity. Persons who transact with unlicensed entities do so at their own risk and may have no regulatory recourse should they suffer loss.

Members of the public should be alert to the following warning signs:

• Promises of unrealistic or guaranteed investment returns;
• Cryptocurrency or virtual asset investment opportunities promoted by unlicensed entities;
• Requests for upfront payments using virtual assets;
• Pressure to act or to pay urgently into the entity’s account;
• Unauthorized Use of Regulatory (NBFIRA) Logos;
• Limited, vague, unclear or insufficient information about the investment opportunity, the persons and office behind it, or how returns are generated; and
• Report any suspicious financial service offerings to NBFIRA without delay.

Before committing funds, members of the public are encouraged to verify the licensing status of any entity offering financial services through NBFIRA’s register of licensed entities, available on the Authority’s website.

Anyone who encounters a suspicious investment scheme or an unauthorised financial service provider is encouraged to report the matter through NBFIRA’s official communication channels.

Important Reminder

Engaging with unlicensed financial service providers exposes consumers to significant risks, including financial loss, fraud, and absence of regulatory protection.

Contact NBFIRA

For verification or to report suspicious activities, please contact NBFIRA at:

Tel: +267 3686100 / 3102595
NBFIRA Email and Social Media: info@nbfira.org.bw & NBFIRA Facebook Page
Website: www.nbfira.org.bw