Guiding consumers since 2009

“FSB letter” used in loan scam

By Alina Hardcastle

The Financial Services Board (FSB) has issued a warning to the public about a scam that solicits money from unsuspecting individuals.

The regulator explained that the scam works as follows: An entity called Skene Finance Group is offering the public loans. If you apply for the loan, you will receive a letter with the FSB’S logo and a picture of the deputy registrar of financial service providers, Caroline da Silva. The letter instructs that you pay an “enclosure fee” of R13 000 prior to receiving the loan amount.  The letter states that fee will be refunded within 24 hours after the loan is released. It further states that FSB requires payment of the “enclosure fee” for the loan transaction to be completed.

The FSB said that it does not approve loan transactions and would never require a member of the public to pay an “enclosure fee”.

The FSB is not in any way affiliated to Skeme Finance Group, which is not approved by the FSB, and the letter purporting to be from the FSB is fraudulent.

The FSB reminds consumers that is important for people to conduct business with authorised financial advisers and service providers. To see if a person or company is registered, you can visit the FSB website or contact them on 0800 110 443.

Handy tip: If you need investment advice, click here.

Recent Articles

Featured Financial conflict can lead to divorce – here’s how to prevent it

Talking about money is an intimate matter, and it may be uncomfortable for couples who’ve managed to avoid this discussion. However, it will become necessary at some point or other. Do you think you’re ready to talk to your partner about money?

This is how much you should spend on accommodation

As your salary changes over time, your expenses will change too. But what if you’re spending an exceedingly large percentage of your income on accommodation? Is it feasible or even recommended in our current stressful financial climate?

How to be “future greedy” with passive income

Setting up numerous streams of income is a safe way to protect yourself from the loss of your main stream of income. Better yet, setting up passive streams of income will ensure you always have money coming in, without costing you additional working hours. So, what is “passive income”, and how can you earn this?

Can your debt be cancelled?

It sometimes happens that you struggle so much to pay your debt that you think of asking your creditor to write it off. But debt doesn’t just get written off. There are conditions that must be met and procedures that must be followed before the creditor cancels your debt.



FNB senior customers can earn up to 30% back in eBucks at Clicks

Price: Available on request
When: From 5 August 2020
Where: Nationwide

Bakwena Spa Women’s Day Special

Price: R549 per person
When: Until 31 August 2020
Where: Centurion, Hartbeespoort, Kuils River

Dis-Chem Pap Test Special

Price: R180
When: From 3 August to 11 September 2020
Where: Nationwide

Latest Guide

Guide to debt rehabilitation solutions