FSB issues warning about a letter scam

30 November 2016 FSB

The Financial Services Board (FSB) would like to issue an urgent warning to the public about a scam that solicits money from unsuspecting individuals.

he approach of the scam is that a loan is offered to the public by an entity called Skeme Finance Group. After an individual has applied for the loan a fraudulent letter with the FSB’s logo and a picture of the Deputy Registrar of Financial Services Providers (Mrs Caroline da Silva) is sent to an individual seeking a loan and instructs them to pay a sum of R13 000 for an “enclosure fee” prior to receiving the loan amount.

The letter states that the fee is refundable and will be refunded to the individual 24 hours after the loan is released. It further states that this “enclosure fee” is a fee that is required by the FSB in order for the loan transaction to be completed.

The FSB would like to caution the public that this Office does not approve loan transactions and would never require any member of the public to pay an “enclosure fee”. Furthermore, the FSB is not in any way affiliated to the entity called Skeme Finance Group, no is it approved by the FSB and the letter purporting to be from the FSB is fraudulent.

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 as to whether or not such institution or person is authorised to render financial services.

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