Avoid these op­er­a­tors – FSB

Weekend Argus (Saturday Edition) - - FRONT PAGE -

The Fi­nan­cial Ser­vices Board (FSB) ad­vises you to act with cau­tion when deal­ing with AK Dol­lar Traders. The firm is not au­tho­rised in terms of the Fi­nan­cial Ad­vi­sory and In­ter­me­di­ary Ser­vices (FAIS) Act to ren­der fi­nan­cial ad­vice and in­ter­me­di­ary ser­vices.

The FSB says con­sumers have com­plained that their money in­vested with AK Dol­lar Traders has not been paid back and they have not re­ceived promised re­turns on their in­vest­ments.

• The FSB also warns against deal­ing with In­vest Ac­quired Hold­ings (IAH) – also not au­tho­rised to ren­der fi­nan­cial ser­vices. The en­tity pur­ports to be an au­tho­rised fi­nan­cial ser­vices provider, but the reg­is­tra­tion num­ber it is us­ing be­longs to Pal Life, an au­tho­rised provider, who says it does not have any re­la­tion with IAH.

To check if a fi­nan­cial provider is reg­is­tered, call the FSB’s toll free num­ber (0800 110 443) or go to its web­site, www.fsb.co.za – Staff Re­porter

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