Scammers selling fraudulent Regulatory Examination (RE) certificates are at it again, this time using the name and logo of Masthead (Pty) and the FSCA.
Just over two years ago, Moonstone reported how scammers operating on social media were defrauding people by claiming they could issue certificates for the FSCA’s regulatory exams. At least two of these scammers claimed to work at Moonstone’s Sandton’s exam venue.
Read: Scammers selling fake FSCA regulatory exam certificates on social media
Last month, the FSCA warned the public against individuals selling fraudulent RE certificates, complete with FSCA and Masthead logos, on social media platforms.
According to Masthead, the fraudulent regulatory examination certificate closely resembled their standard e-learning certificate, however, they have been forged.
The FSCA encouraged candidates to directly deal with Moonstone, and not to deal with or make use of any third parties to obtain a regulatory examination certificate.
Moonstone is the only institution approved by the FSCA to provide the regulatory exams in South Africa. Moonstone adheres to the FSCA’s strict policies and protocols governing the setting of questions, the invigilation of exams, and the marking of papers.
The persistence of certificate fraud highlights the need for employers to conduct a thorough check on a prospective employee’s educational qualifications and not simply to accept what could pass for an authentic certificate.
Moonstone will check the authenticity of a certificate if an employer provides the candidate’s written consent.
Authentication requests must include a copy of the candidate’s identity document or passport and the certificate/s, together with a signed authorisation by the candidate and an indemnity form to make the information available to the prospective employer. The request, with the documents, must be emailed to faisexam@moonstoneinfo.co.za.
In terms of the mandate from the FSCA, Moonstone is allowed only to confirm or deny that the certificate is valid.
A standard confirmation email will be forwarded after the certificate has been authenticated if it is found to be legitimate. If the certificate is found to be fraudulent, it will be reported to the FSCA.
Please note that FSPs are required to have certificates verified before they enter a candidate’s information on their representative register. FSPs must obtain confirmation from the FSCA to ensure that the RE certificate is valid.
For any enquiries relating to RE or if an employer wishes to verify the authenticity of RE certificates, contact Moonstone on 021 883 8000 or 021 888 9796.
To book for an RE exam, contact Moonstone’s registration centre in Stellenbosch.
Click here to contact the Exams Department.
The CISA uses the PrivySeal, which is a great verification as to whether the candidate is truly a member of the CISA. The same principle can be applied to these qualifications / certificates.