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COM­PILED BY NEESA MOOD­LEY

CityPress - - Business -

FSB WARNS AGAINST NEW PONZI SCHEME

The Fi­nan­cial Ser­vices Board (FSB) has is­sued a warn­ing against con­duct­ing fi­nan­cial ser­vices busi­ness with The Ea­gles, which is not an au­tho­rised fi­nan­cial ser­vices provider. It prom­ises un­re­al­is­tic re­turns of be­tween 200% and 800% in 60 days to eight months.

Re­mem­ber that prom­ises of un­re­al­is­ti­cally high re­turns are usu­ally the warn­ing sign that it’s a scam. When­ever you en­gage with a fi­nan­cial ser­vices provider, you should al­ways check that they are ac­cred­ited by con­tact­ing the FSB on the toll free num­ber (080 011 0443) or by check­ing on the web­site fsb.co.za.

BEWARE OF LOAN SCAM

In a sec­ond warn­ing this week, the FSB alerted the pub­lic to a scam that so­lic­its money from un­sus­pect­ing in­di­vid­u­als.

The ap­proach of the scam is that a loan is of­fered to you by an en­tity called Skeme Fi­nance Group.

Af­ter you have ap­plied for the loan, you are sent a fraud­u­lent let­ter with the FSB’s logo and a pic­ture of the deputy reg­is­trar of fi­nan­cial ser­vices providers (Caroline Da Silva), with an in­struc­tion that you have to pay a R13 000 “en­clo­sure fee” be­fore you can re­ceive the loan you ap­plied for.

The let­ter states that the fee is re­fund­able and will be re­funded 24 hours af­ter the loan is re­leased.

It fur­ther states that this “en­clo­sure fee” is a fee that is re­quired by the FSB for the loan trans­ac­tion to be com­pleted.

The FSB is nei­ther af­fil­i­ated to Skeme Fi­nance Group, nor is it ap­proved by the FSB and the let­ter pur­port­ing to be from the FSB is fraud­u­lent.

EARN CLUBCARD POINTS AT SHELL GARAGES

If you are a Clicks ClubCard mem­ber, you can now earn points by swip­ing your ClubCard ev­ery time you buy petrol at a Shell petrol sta­tion any­where in the coun­try. Ev­ery litre of fuel or diesel that you buy earns you one point.

Cash is loaded on to your ClubCard six times a year and can be re­deemed at any Clicks, GNC or Claire’s store na­tion­wide.

David Kneale, the CEO of Clicks Group, says the new part­ner­ship with Shell makes it easy to earn ClubCard points and gives mem­bers even more re­wards.

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