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 Are you entitled to your spouse’s pension after divorce?

Divorce means more than just parting ways with your partner. It may also involve parting ways with your assets. The Divorce Act states that your retirement fund forms part of your assets. This means that it will be considered when dividing up your assets.

Retrenched – what payments are you entitled to?

In the current struggling economic climate, retrenchments are a regular occurrence and not everyone survives the cut. If you find yourself on the receiving end of retrenchment you may have questions about the payments that are due to you.

Do you want to settle your debt?

You may be considering settling your credit account, whether it’s a credit card or various store accounts, now may be as good a time as any. This especially if you have saved, or you received a tax return or salary bonus. 

Can you afford a personal loan?

Taking out new debt is not always a choice. However, if you’re not pressed by a medical emergency or an unforeseen disaster, it’s worthwhile considering whether you can actually afford it. But what does it mean to “be able to afford a personal loan”? What percentage of your income should you not exceed dedicating to it? 

Deals

Eat for less on Tuesdays at Panarotti’s

Price: R59.99
When: Tuesdays
Where: Nationwide

Get discounts with Clicks ClubCard Seniors Programme

Price: Available on request
When: Daily
Where: Nationwide

Amani Spa Voucher Special

Price: R1000
When: Daily
Where: Cape Town, Jhb, and Port Elizabeth