FSB warnings to the public

The Financial Services Board cautioned the public against dealing with two unauthorised entities using fake FSB certificates.

Millenniums Financial Services CC is not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act), to render any financial advice and intermediary services. According to the media release from the Regulator, the fake FSB certificate contains the number of a legally registered FSP, Econorisk Administration Services (Pty) Ltd, with FSP number 24171.

Similarly, Arion Loan (Pty) is apparently using a fake FSB certificate to dupe the public into believing that it is a registered FSP, and is providing financial services illegally.

The copies of the certificate are faked from the original certificate of Africa Vukani Investment Management Services (Pty) Ltd, with FSP number 691.

Consumers who wish to conduct financial services with an institution or person are reminded to check beforehand with the FSB on either the toll free number (0800 110 443) or on the website as to whether or not such institution or person is authorised to render financial services.

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