The Regulator recently issued three warnings to the public via media releases:
Eastern Cape Tracing Agents
“A certain Mr Matshaya is operating as a tracing agent in the Mdantsane area in the Eastern Cape. He claims to be an agent for beneficiaries of unclaimed benefits.”
“While a person who believes that he or she is entitled to an unclaimed benefit or unclaimed surplus may ask another person to assist him or her to claim it, the only people who can legitimately charge for providing such assistance are authorised financial services providers and attorneys. Mr Matshaya is not an authorised financial services provider.”
“Bogus” Representatives
“Recently, two individuals – who only give their first names, Mazwi and Sibusiso – have been misrepresenting themselves to be authorised representatives acting on behalf of Momentum Investment Holdings (Pty) Ltd, an entity that they claim is registered as a financial services provider (FSP).”
“Their modus operandi involves producing a fake certificate to dupe prospective investors telling them that they have a two-week special where the investor has the opportunity to invest money over a period of 12 to 15 days and get a “double return” on their initial investment.”
“MMI Holdings Limited, a registered entity which provides financial services products through Momentum, one of its operating divisions, has pointed out that it has no connection whatsoever with Momentum Investment Holdings (Pty) Ltd.”
Thesgofatso Holdings & SE
“The FSB has received information that Thesgofatso Holdings & SE is using a FSB licence number to mislead the public into believing that it is a registered FSP and provide financial services illegally. The FSB licence number that is used on the marketing material of Thesgofatso Holdings & SE is the FSB licence number of another authorised Financial Services Provider with licence number: 43862.”
“FSP 43862 has indicated to the FSB that it has no connection whatsoever with Thesgofatso Holdings & SE. Therefore, Thesgofatso Holdings & SE has used the authorised FSP’s licence number fraudulently.”
