FSB warns the public against Preve Consulting

The Financial Services Board (FSB) warns the public to act with caution when dealing with Preve Consulting.

It has been brought to the attention of the Regulator that Preve Consulting Ltd is soliciting money from unsuspecting individuals and promising them high and unrealistic interest rates within 5 to 30 days.

On their website, www.preveconsulting.co.za the company claims to be an authorised Financial Services Provider (FSP), operating under FSP number 182. However, this FSP number belongs to FNB SECURITIES (PTY) LTD. FNB SECURITIES (PTY) LTD has advised the FSB that it has no business relationship with Preve Consulting Ltd, nor has it authorised Preve Consulting Ltd to use its FSP number.

Preve Consulting Ltd is not authorised in terms of the FAIS Act to render any financial advice or intermediary services. Anyone that sells a financial product, or provides financial advice, must be licensed by the FSB, and should have an FSP number.

The FSB would like to remind consumers who wish to receive financial services from an institution or person to first check if that entity is licensed by the FSB. Our toll free number is (0800 110 443), or you can visit our website www.fsb.co.za.