FSB warns about dodgy operators

THE FINANCIAL Services Board (FSB) has warned about several financial services companies and individuals who are acting unlawfully, saying you should proceed with caution when dealing with them. They are:

• Olivier and Mann Inc. This Tokyo-based financial services company is not authorised to render financial services in South Africa, the FSB says.

• The “Financial Services Authority”, with Sadia Akbar indicated as the contact person.

The FSB says that an email in circulation, purporting to be from the “Financial Services Authority”, offers South African citizens access to funds from the United Nations. This correspondence is fraudulent and does not originate from the FSB, and Akbar is not affiliated with the FSB. An entity called the “Financial Services Authority” does not exist in South Africa, the FSB says.

• Gina Nel, purporting to be affiliated with financial services company Direct Axis. The FSB says it has received information that

Nel purports to represent Direct Axis and communicates via email offering loans to consumers. Direct Axis has confirmed that Nel is not currently, nor has she ever been, a representative of the company.

She is not authorised by the FSB to render financial services.

• Instant Group SA. The FSB says Instant Group SA is not an authorised financial services provider. It appears to be trading under the FSP number 41456, but it is not authorised to use this number.

• People purporting to be from an authorised financial services provider, Creative Investment Options CC, FSP 16399. The FSB says these “impostors” contact prospective clients, offering them investments with the promise that they will receive a 50% return on their investment in two weeks. Creative Investment Options has confirmed that no connection exists between them and the impostors offering such returns.

Consumers should check with the FSB whether or not an institution or individual is authorised to render financial services. Phone 0800 110 443 or visit www.fsb.co.za. – Staff Reporter