FSB warns the public against people purporting to be from Champion Finance

The Financial Services Board (FSB) would like to warn the public to act with caution when dealing with people purporting to be from Champion Finance. Champion Finance, FSP 46006 is authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act), to render any financial advice and intermediary services.

The FSB received information that 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. We can confirm that there is an authorised financial services provider by the name of Best Debt Finance (Pty) Ltd, FSP 46205. Both Champion Finance, FSP 46006 and Best Debt Finance (Pty) Ltd, FSP 46205 have confirmed that no connection exists between them and these people offering finance. 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.