#moneyweb

[choppedreviewfart]

Banxso – beneficiary or victim of ‘R4 800’ Musk and Rupert scams?

Trading group claims scam sites registered clients on its platform without its knowledge.

Cape Town-based online trading group Banxso appears to benefit from several deepfake scams linked to prominent business icons such as Elon Musk and Johann Rupert.

In these scams, Musk and Rupert ‘announce’, in videos and written articles posted on social media, a new artificial intelligence trading app that promises to turn one-time investments of R4 700 or R4 800 into a passive income of up to R300 000 a month.

Immediate Matrix is the entity behind these fake ads. The Financial Sector Conduct Authority (FSCA) issued a warning against the company in December last year.

Read: FSCA’s Immediate Matrix warning

However, a Moneyweb investigation found that individuals who react to the ads and register on Immediate Matrix platforms immediately become Banxso customers, where many investors, possibly thousands, have lost significant amounts of money

‘Malicious attack’

Banxso vehemently denies any link to Immediate Matrix and the fake ads.

It claims Immediate Matrix registered the investors on the Banxso platform without its knowledge. It regards it as a malicious attack aimed at damaging its brand and casting doubt on its credibility.

The company also alleges this practice is commonplace and a big problem worldwide. (See the complete response below.)

Who is Banxso?

Banxso opened its doors in April 2022 and is a relatively new financial services group in South Africa. It is registered with the FSCA and authorised to offer various online and derivative trading services.

The company seems to grow rapidly and claims to sign up more than 2 000 customers daily.

The key individuals behind the firm are Harel Sekler and Warwick Sneider, the company directors. Manuel de Andrade is the general manager, and Mohammed Bux is listed as a “key individual” on the FSCA website.

According to De Andrade, an international group, FX Solutions, owns the company.

Banxso also sponsors the national soccer team Bafana Bafana and UFC champion Dricus du Plessis.

The company first hit the headlines in December after the Financial Services Authority of Seychelles issued a scam alert highlighting that Banxso was not licensed or regulated to do business in the country.

Banxso said this scam alert followed an administrative error and is being addressed.

Some investors lost millions

In the past few weeks, many investors have sent Moneyweb detailed complaints and affidavits filed as part of criminal charges, claiming significant financial losses after reacting to the fake ads and, through Immediate Matrix, becoming Banxso customers.

A few examples:

A Gauteng-based couple lost R5.5 million;

A 75-year-old Stellenbosch resident lost R2.6 million;

A 72-year-old pensioner from Johannesburg lost R828 000; and

A legal professional from Pretoria lost R500 000.

Most individuals claimed they lost between R4 700 and R100 000.

In response to questions from Moneyweb, Banxso did not disclose how many clients actually made money.

Modus operandi

The investors’ version of events is broadly similar. They saw the deepfake ads on social media and believed the ‘promises’ of Musk and Rupert. They clicked on the links and registered on one of several websites owned by Immediate Matrix.

They were then contacted by Banxso, following which they ‘invested’ nominal amounts of R4 700 and R5 000 and commenced trading with the help of ‘success managers’.

In many cases, some trades were profitable but soon started to lose money.

When the losses started to mount, the success managers would urge them to invest additional funds to “recoup their losses”. These subsequent investments were usually significantly more than the initial deposit, but these amounts were soon wiped out too.

Some investors claim the success managers became aggressive and abusive when they refused to deposit additional funds or requested withdrawals.

Many clients cashed in pension money, maxed out credit cards and even refinanced their houses to fund the additional investments.

Moneyweb investigation

Moneyweb initiated an investigation and searched for deepfake ads (of which there are many). These ads clicked through to websites bearing iterations of Immediate Matrix’s name, such as www.immediatematrix.io and immediatematrix.club.

Moneyweb registered as prospective investors under three names.

Image: The author

Almost immediately, the three Moneyweb registrants received SMSs and emails from Banxso thanking them for “signing up” with Banxso.com.

The emails contained login details to a Banxso trading account already set up, with a link to where the first trading funds were to be deposited.

A Banxso representative was also quick to phone, but more about this later.

Image: The author

Banking details

Clicking the link in the email directed one to an existing account on the Banxso.com platform.

The button link to the payment page offered several deposit options, including an electronic fund transfer option to a Standard Bank account.

The author used the verification function of his Absa online banking service, which confirmed that the account belonged to Banxso, proving that it wasn’t a spoof site.

Image: The author

Banxso phone call to ‘Johan’

As mentioned earlier, a Banxso agent was quick to call after the registration of one of Moneyweb’s registrants, ‘Johan’, on the Immediate Matrix site.

The agent was Fakharoodien Camroodien, who introduced himself as one of the head onboarding specialists.

He said Johan’s registration on the Banxso platform resulted from his application for a “semi-automated trading account”, a service not referenced in any of the fake ads or the Immediate Matrix websites.

Camroodien went to great lengths to prove that Banxso was a legitimate and trustworthy entity by highlighting its FSCA registration, its banking relationship with Standard Bank, its brick-and-mortar offices in South Africa, and its sponsorships of Bafana Bafana and Du Plessis.

He said Banxso is not a “get-rich-quick scheme” but that clients could expect potential returns of between 15% and 20% a week on a “low-risk” investment option and 30% to 40% a week on a “high-risk” option.

He also stated that “highly experienced success managers” would manage the portfolio on Johan’s behalf.

And he proactively referred to the investment amounts of R4 700 and R4 800 touted in the fake ads without Johan ever mentioning these amounts.

Moneyweb then pressed Camroodien as to why Banxso “signed up” Johan after acting on the Rupert-linked fake ad and registering on the Immediate Matrix platform.

“I’ve seen the ad, and I know exactly what you’re talking about. But like I said, we are not linked to him.”

He explicitly denied any link between Banxso, Immediate Matrix and the fake ads. Still, he struggled to explain why the registration on the Immediate Matrix site led to Johan being automatically “signed up” with Banxso.

“So that’s obviously that ad you saw is marketing the semi-automated or the automated trading functions. So that does go through to lots of brokers in South Africa. You get licensed and unlicensed brokers. So, we are the number one trusted broker in South Africa. That’s why your information came through to us.”

Read: Tips to avoid being scammed when investing in cryptocurrency Here’s how the most advanced crypto scams work We track down funds scammed from a Moneyweb reader

When pressed further, Camroodien acknowledged he was aware that Immediate Matrix was a scam.

“We’ve searched up on the Immediate Matrix. So, if you Google Immediate Matrix, you’ll see there are a lot of scamming things. Scam and scam reviews and all of these crazy little things. So that’s basically relating to the trading system. The fully automated trading system. So that’s like a marketing ad that you’ve seen. Marketing Immediate Matrix, automated trading, robots and things like that.

“The only link we have to that ad that you have seen is the automated trading features and functions that you are looking for. That is the reason you came through to us.”

After more pressing questions, Camroodien passed the phone to Shakeel Essa, a sales team leader.

‘Funnel’ of investors

“When you register, you go through a funnel, which can go through to any broker that’s available in South Africa, for example, or internationally if that is the current case,” said Essa.

“But you came to us, and that’s the reason why we are contacting you.”

From this anonymous interaction, it’s clear that Banxso knows that people who act on the scam ads and register with Immediate Matrix are automatically registered on its platform.

However, Banxso distances itself from the promised returns of R300 000 a month on an initial R4 700 or R4 800 investment and instead markets its own product, offering potential weekly returns of between 15% and 40%.

Response from Banxso management

Following this conversation with Camroodien and Essa, Moneyweb engaged extensively with Banxso’s general manager, Manuel De Andrade.

Manuel de Andrade, Banxso’s general manager. Source: Zoom meeting screengrab

In various emails, a Zoom meeting and a telephone call, he vehemently denied any link between Banxso and Immediate Matrix.

The first interaction was an email in which he acknowledged that Immediate Matrix registrations flow through to the Banxso platform but claimed they were unaware of it.

“It is crucial to clarify that Banxso automatically sends acknowledgement notifications to anyone who signs up, either directly through our platform or indirectly via an API [application programming interface] integration.

“As we have previously outlined, the fact that your registration was rerouted to Banxso through a public API does not imply a direct affiliation or connection between Banxso and the scam.”

He said the origin of the API signups can be traced back to a technique known as “cloaking, which is frequently employed to conceal the actual intent behind the scam”.

He also stated that it was not suspicious that Camroodien proactively referred to the R4 700 or R4 800 investment, as this is the rand value of $250, which is “observed by approximately 95% of the online investment sector”.

Read: FSCA warns against dubious brokers, platforms offering easy money

In a subsequent virtual meeting, De Andrade said Banxso initiated an investigation into Immediate Matrix “to understand technically how they’ve come to be perceived to be linked to Banxso”.

He said Banxso receives “thousands of signups a day” from various marketing campaigns on mainstream online publishers and social media platforms and “we probably get an average of 50 to 100 clicks a day, which is suspected to be attributable to this” (the fake ads and Immediate Matrix).

One of Banxso’s newly appointed cyber security experts explained that one of the Immediate Matrix websites (www.immediatematrix.io) targeted South Africa and signed users up on the Banxso homepage without receiving any financial gain. The expert said Banxso was unaware that the leads came from Immediate Matrix and regarded them as legitimate.

Clickjacking

The IT expert also stated that it is technically very easy for a third party to register clients on Banxso’s public API and that it is a big problem worldwide.

“It looks like a bit of clickjacking, which is a type of attack that basically is used to tarnish a reputation, where you take bad traffic in order to lower the online ranking of a website or company, or to get them in trouble.”

The security expert also proclaimed that a Banxso agent never phoned ‘Johan’, inferring that the call came from a third party.

De Andrade interjected and confirmed that a Banxso agent had made the call.

In a subsequent interview, De Andrade described it as a malicious attack.

“This is a malicious attack, and we are not sure what the motivation is. We thought ransom, but it hasn’t come to light yet. We thought reputational damage … Whose business are we hurting so much in South Africa that they would resort to this? It’s not beyond the realms of possibility that that’s behind it. And, I’m not generally a conspiracy theorist, but this is what we have to explore.”

Asked whether Banxso benefitted financially from Immediate Matrix’s registrations on its website, De Andrade said Banxso “certainly suffered more damage” than benefit due to reputational damage.

He also said: “If we could shut this down, we would shut it down. There’s no way we can keep this damage going. This really is a case of you [the author] looking at a storyline that Banxso is scamming the South African public. And my challenge is to get back to you so that we can rewrite that storyline, that this is a well-disguised scam which is targeting South African financial institutions to scam the public.”

Lack of action

De Andrade stated that Banxso became aware of the “malicious” attack in mid-January and acknowledged that it was slow to react.

“Probably four weeks ago, I would suggest, we started hearing noise about it. When we discovered the leads were coming from them, because as we continue to assert, we don’t get the leads from them directly at all. So we are now trying to see how they are routing them.”

He acknowledged that Banxso did not take it seriously at first.

“We didn’t take it seriously, and this is why I say we should have. We are guilty of acting too slowly, guilty as charged.”

In a subsequent email, De Andrade stated that the company is now taking active steps to address the situation.

This includes the sending of cease-and-desist orders against Immediate Matrix, Cloudflare and Dynadot, and engaging the FSCA to obtain formal confirmation that Banxso has no affiliation or relationship with Immediate Matrix. (Cloudflare is an international firm providing content delivery network services, cloud cybersecurity and other internet-related services, and Dynadot is a domain name vendor.)

Response to the scam warning of the Seychelles FSA

As indicated earlier, the financial regulator in the Seychelles issued a scam warning related to Banxso in December last year.

De Andrade stated that the warning followed Banxso’s marketing department prematurely uploading confirmation of a transaction through which Banxso acquired a licensed company. The reference on the website was then removed. Banxso expects to receive a new licence in due course.

Response to the Banxso agent’s claim of possible returns of up to 40% a week

In response to the Banxso call centre agent’s claims during the conversation with ‘Johan’, De Andrade said he’d give Camroodien “seven out of 10” and Essa “eight or nine”.

“I’m not happy with what quality control has reported in terms of that you could potentially profit to the extent of 20% to 35% [a week]. That’s just saying, potentially isn’t good enough for me. They’d be well advised to be a little more considerate of the facts.

“So that’s a separate conversation because when agents do make false promises and get carried away in the moment, which they do, they’ll spend 35 to 45 minutes talking to clients. Some of them can get carried away, and we need to rein them in.”

Immediate Matrix did not respond to Moneyweb enquiries on its website and social media platforms.

Any investors who have lost or made money on the Banxso platform are welcome to contact me at ryk@moneyweb.co.za.

After publication of this article, Banxso sent the follow statement:

“Banxso has no links with Immediate Matrix.

Recent reporting suggests that there is a link between Immediate Matrix and Banxso. There is no such link.

It is crucial to understand that Banxso has fallen victim to sophisticated fraudulent schemes aiming to tarnish its brand.

 When the company became aware of the misuse of its brand, Banxso not only took immediate action but also engaged in a long-term strategy to combat this scam and protect its stakeholders.

These steps included:

Early Warnings and Public Awareness: Weeks before these allegations gained media attention, Banxso had already placed prominent warnings on our homepage about the scam. Recognizing the importance of public awareness, they took proactive steps to inform and protect their community.

Educational Content and Demonstrations: The company shared videos with Moneyweb and our client base, demonstrating how these scams are initiated. These videos also show that the scam could misleadingly reroute users to reputable sites, underscoring the sophisticated nature of the fraud.

Legal Actions and Cease and Desist Notices: To further combat the scam, Banxso has issued cease and desist letters to the server and domain registrar hosting Immediate Matrix. These actions highlight the company’s determination to pursue all available legal avenues to protect its brand and clients.

Direct Communication with clients and the public: Banxso has been vigilant in communicating with its client base through emails and, social media warnings specifically addressing the scam. The goal is to ensure clients and the broader public are informed and can take necessary precautions to protect themselves.

Regulatory Cooperation and Compliance: Banxso has worked closely with the Financial Sector Conduct Authority (FSCA) and other regulatory bodies to share information and cooperate fully in any investigations.

References made to the company’s regulatory status have relied on outdated information about a clerical error by a regulator in Seychelles. This issue was rectified.

Unfortunately, the link cited in the Moneyweb report does not reflect this update, leading to a misrepresentation of the current standing. The company holds 15 licenses worldwide, emphasizing its commitment to regulatory compliance and the trust placed in them by international authorities.

 Banxso’s commitment to operating with the highest levels of integrity and transparency is unwavering.

The company is a fully regulated entity, adhering to the stringent standards set by global financial authorities, including the FCA, ASIC, and FSCA. Our dedication to ethical practices and client security is at the core of everything we do.

We invite anyone with concerns or questions to directly engage with our dedicated support team. Your trust and security are our top priorities.”

Banxso campaigns on Moneyweb

Banxso has run several marketing campaigns on Moneyweb. At the start of the Moneyweb investigation, these historic campaigns were deleted, and a new one was cancelled. Moneyweb’s policy is to accept advertising only from FSCA-licensed businesses, which Banxso is. However, the new campaign was cancelled as a precautionary measure based on the events described in this article.

[4x4community]

Moneyweb: More pain at the fuel pumps on Wednesday

Forum: Other diverse topics Posted By: Tool_Fan Post Time: 2024/03/01 at 01:46 PM http://dlvr.it/T3T3Lf

[theorymin]

Minimalist investing: Can you trim your portfolio and still make money? - Moneyweb

https://news.google.com/rss/articles/CBMif2h0dHBzOi8vd3d3Lm1vbmV5d2ViLmNvLnphL21vbmV5d2ViLXBvZGNhc3RzL21vbmV5LXJ1bGVzL21pbmltYWxpc3QtaW52ZXN0aW5nLWNhbi15b3UtdHJpbS15b3VyLXBvcnRmb2xpby1hbmQtc3RpbGwtbWFrZS1tb25leS_SAQA?oc=5&utm_source=dlvr.it&utm_medium=tumblr

[creatiview]

[ad_1] Cape Town Tourism’s long-time CEO Enver Duminy, together with Ravi Nadasen – former COO of Tsogo Sun Hotels (now Southern Sun Hotels) – and Rosemary Anderson who’s the national chairperson of the Federated Hospitality Association of South Africa (Fedhasa), have all resigned from the SA Tourism board over the Tottenham Hotspur sponsorship debacle. This was confirmed in a statement sent to Moneyweb on Friday, with the trio noting that their resignations are with immediate effect. The three are key players in the local tourism industry, considering their roles and extensive experience, but decided to resign from the board of the national tourism agency this week, after voicing their disapproval (on the board) of the controversial proposed deal of almost R1 billion. “Resulting from a difference of opinion, Nadasen and Duminy’s resignation [effective 2 February 2023] and Anderson’s resignation [effective 3 February], were tendered to Tourism Minister Lindiwe Sisulu and South African Tourism board chair Dr Aubrey Mhlongo,” their statement said. “The former board members have a fiduciary responsibility to hold confidential information obtained during their board service and will not be available for any further comment on the matter,” the statement noted. In a separate message, sent to various tourism industry players and seen by Moneyweb, Duminy and Nadasen state that they resigned as they “disagree with the proposal for various reasons”. “As our resignation is now public knowledge, we felt it important for you as a key stakeholder to be aware of the matter from our side,” it reads. Three-year sponsorship The resignations of the trio come days after a news report in Daily Maverick, which revealed SA Tourism’s proposal for a three-year sponsorship deal with the English Premier League football club Tottenham Hotspur, amounting to £42.5 million, or around R900 million. The proposed deal, once approved and signed, was expected to begin at the start of the English Premier League later this year. However, it seems the proposal is now dead in the water, after President Cyril Ramaphosa’s office also expressed disapproval of the deal on Friday afternoon. Bloomberg reported that Ramaphosa was opposed to the deal, saying that the R1 billion amount is too extensive. Read:Ramaphosa pans Tottenham Hotspur sponsorship dealSA Tourism ‘absolutely’ still wants to ink Tottenham Hotspur deal despite public outrageThree perspectives on SA Tourism’s impending Spurs sponsorship deal Addressing a press conference on Thursday, SA Tourism acting CEO Themba Khumalo stressed that while there wasn’t a final signed deal, the agency had secured conditional approval from its board and that the entity remains intent on signing a deal. “There is no signed contract … [but] is there an intention to [sign]?’ Absolutely,” he declared. “The board made a conditional approval, and the condition was [that] we believe … commercially this makes sense.” By Friday morning, Daily Maverick had also reported that SA Tourism’s interim CFO, Johan van der Walt, had ties to an agency named in the original documents about the Tottenham Hotspur deal, despite its CEO declaring that was no agency acting as a middleman. Read:Hospitality sector calls for municipalities to lower rates and utilitiesGlobal private school group scoops Tsogo Sun Hotels execCovid lockdown cost Cape Town Tourism almost 12 000 jobs [ad_2] Source link

[thesecrettimes]

South African Dispute Resolution Office Says It Now Considers Crypto-Related Complaints

According to South Africa’s Office of the FAIS Ombud, an independent dispute resolution office, individuals with crypto-related grievances that occurred after Oct. 19, 2022, can now formally submit such complaints on the agency’s website. However, the Office of the FAIS Ombud insisted that all complaints that occurred before crypto assets were designated financial products will not be considered and should not be resubmitted.

Code of Conduct for Crypto Asset Service Providers

The South African government agency charged with investigating and resolving complaints in terms of the Financial Advisory and Intermediary Services (FAIS) Act recently said it can now “investigate complaints against existing registered financial service providers who offer advice on cryptocurrency.” According to the agency, which is known as the Office of the FAIS Ombud, the recent designation of crypto assets as financial products has made this possible. In a news article published on its website, the dispute resolution agency said crypto-related complaints can only be filed against registered financial service providers (FSP) who must adhere to the country’s General Code of Conduct for authorized FSPs. This code requires “material disclosures, conducting a needs analysis and recommending a product that is appropriate to one’s needs and circumstances.”

Only Three Complaints Filed

However, according to the remarks by the agency’s Thuso Ngwagwe published by Moneyweb, all complaints lodged with the Office of the FAIS Ombud prior to the Financial Sector Conduct Authority’s crypto asset designation will not be considered. In the report, Ngwagwe reiterated the agency’s assertion that it lacks jurisdiction. “All complaints received prior to 19 October 2022 in respect of investments made into cryptocurrency were dismissed by this Office as we did not have jurisdiction to entertain these matters,” Ngwagwe reportedly said. According to Ngwagwe, the Office of the FAIS Ombud received a total of eight cryptocurrency-related complaints during the 2022/23 financial year. However, only “three occurred after 19 October 2022 and will be considered.” The rest of the complaints will not be considered and cannot be resubmitted, Ngwagwe added. For individuals with complaints that fall within its jurisdiction, the Office of the FAIS Ombud advised visiting its portal and making a formal complaint. Register your email here to get a weekly update on African news sent to your inbox: What are your thoughts on this story? Let us know what you think in the comments section below. Read the full article

[toptrending2]

Rand firms on Tuesday - Moneyweb

Rand firms on Tuesday – Moneyweb

The rand was firmer in early trade on Tuesday. At 08:30, the rand traded at R17.59 against the dollar. October mining, and October and November business confidence numbers are due around 0930 GMT. They will shed further light on the economy’s fourth-quarter momentum after a surprisingly strong showing in the third quarter. On global markets, the focus was on US inflation data later in the day and…

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Sandton Rea Vaya mission to be accomplished in 2024

Building work on Sandton Central’s Rea Vaya part 1C route, which started in 2014 however suffered a number of delays together with attributable to political instability and pandemic-related halts, will resume on Monday (17 October). The station – positioned on Rivonia Street between Katherine Road/Sandton Drive and Fifth Road – is one in every of two such stations underneath growth in Sandton, which is dwelling to the JSE and the headquarters of main banks and different listed firms. Building of the stations was initially scheduled for completion in 2019, however Covid-19-related delays and different challenges has pushed the date to someday in 2024.  The preliminary part is estimated to take as much as eight months and can embrace widening of the street and the relocation of underground cables. Throughout this time, two lanes of Rivonia Street will stay open for motorists.  “Because the nation’s monetary hub, on a regular basis Sandton Central attracts many individuals for enterprise, tourism, purchasing and pleasure,” says Elaine Jack, supervisor of the Sandton Central Administration District (SCMD). “Whereas there will probably be some short-term disruption to visitors, folks from across the metropolis and past will profit from this new, handy type of transport.” “The brand new Rivonia Street station is the ultimate component of the numerous infrastructure enhancements already made to roads, pavements and public transport to help the Rea Vaya service in Sandton Central. Tasks like this assist Sandton Central stay on the forefront of well-managed central enterprise districts,” she provides. The part 1 C route runs from Johannesburg’s Park Station to Parktown, Orange Grove, Wynberg, Alexandra and on to the stations in Sandton’s Katherine Road and Rivonia Street. An artist’s impression of the second leg of the Sandton Central station on Rivonia Street. Picture: Equipped. Instability in Metropolis of Joburg The Rea Vaya fast bus transit mission has been over 10 years within the making, having begun preliminary operations in 2009 forward of the Fifa World Cup. Its first route linked Soweto to the Johannesburg CBD. When conceptualised within the early 2000s, the goal was to create transport linkages between communities on the periphery of Johannesburg to the province’s monetary centre Sandton. Since then, makes an attempt to attain this activity have apparently been held again by a number of management adjustments throughout the metropolis council, partnership negotiations between the town and taxi operators and the arrival of Covid-19.  The Metropolis of Johannesburg has seen not less than seven mayors come and go since 2014, when the Sandton leg of the mission started building. Infrastructure enhancements Regardless of the delays, Rea Vaya has ushered in much-needed infrastructure growth for the town, enhancing entry to Sandton Central by constructing new bridges, widening essential roads and setting up biking and strolling amenities.  In response to SCMD, the brand new Rea Vaya infrastructure can even characteristic 30.5km of strolling and biking paths in addition to a biking and strolling path linking Alexandra and Sandton.  Jack says the event will carry out the important operate of additional integrating the town’s transport system, competing with world class cities.  “These fast bus transport providers are a regular characteristic of main cities worldwide. “For Sandton Central, it ensures that South Africa’s monetary hub continues to be properly positioned to draw enterprise, funding, customers, vacationers, workforces and residents, with its availability of straightforward, sustainable, and inexpensive private transport.” By Akhona Matshoba This text first appeared on Moneyweb, and was republished with permission. Learn the unique article right here. Originally published at Irvine News HQ

[working-with-rocks]

From 21 May 2019.

Well, this seems counterintuitive, doesn’t it? 

Large scale gold mining in sub-Saharan Africa has reduced infant mortality in nearby communities by 50% among those born within 10km of a gold mine.

Gold mining, and economic development generally, is a proven way of reducing infant deaths.

A study by Anja Benshaul-Tolonen published in The Economic Journal of the UK also finds that local industrial development may be an effective way to reduce infant mortality in developing countries with high rates of mortality arising from poverty.

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#what2buy

#wine  #winefarm