FSCA warns the public against scammers impersonating Stanlib Loan Wealth Management (Pty) Ltd

15 July 2020 The Financial Sector Conduct Authority (FSCA)

The Financial Sector Conduct Authority (FSCA) would like to warn the public to act with caution when dealing individuals pretending to be from Stanlib Wealth Management (Pty) Ltd which trades as Stanlib Loan Wealth Management (Pty) Ltd.

The FSCA received information that individuals are attempting to use Stanlib’s name to offer loans at low interest rates. The scam is communicated on WhatsApp using the cellphone number: 067 209 1945 and email address: [email protected]. The FSCA has confirmed with Stanlib that they do not have any connection with these individuals, the email address and WhatsApp number referred to. If you receive a suspicious or unsolicited email, please email [email protected]. Alternatively, if you have any questions, need support or information about safe online transactions with Stanlib, please contact them by emailing [email protected].

Members of the public should always check that an entity or individual is registered with the FSCA to provide Financial Advisory & Intermediary Services and what category of advice it is that the entity is registered to provide. There are instances where persons are registered to provide basic advisory services for a low risk product and then offer services of a far more complex and risky nature. The FSCA again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSCA 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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