FSB warns against people claiming to be from Champion Finance

By Staff Writer

The Financial Services Board (FSB) has released a statement warning the public to act with caution when dealing with people who claim to be from Champion Finance.
 
While Champion Finance (FSP 46006) is an authorised financial services provider (FSP) in terms of the Financial Advisory and Intermediary Services Act, and are therefore legally able to provide any financial advice and intermediary services, there is a person or persons contacting people purporting to act for a company named Champion Finance.
 
“These people use a document with a letterhead stating that “Champion Finance is a division of Best Finance (Pty) Ltd, FSP 46205.” These imposters offer people finance and ask for a certain amount to be paid by the prospective client in order for the finance to be released,” explained the FSB.
 
However, while both Champion Finance and Best Debt Finance (Pty) Ltd (FSP 46205) both exist and are registered FSPs, they have confirmed that “no connection exists between them and these people offering finance.”
 
The FSB stated: “It is the FSB’s view that the above mentioned people are using the authorised financial services providers’ names without authorisation. The FSB again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSB on either the toll free number (0800 110 443) or on the website www.fsb.co.za as to whether or not such institution or person is authorised to render financial services.”

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