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Cape Town - The FSB has warned against imposters using the company name Champion Finance along with Best Finance (Pty) Ltd to extort money from prospective clients.
There is no link between FSB registered Champion Finance (FSP 46006) and Best Debt Finance (Pty) Ltd (FSP 46205), the Financial Services Board warned in a statement.
The FSB said it received information that people are using the company name Champion Finance and a document with a letterhead stating that “Champion Finance is a division of Best Finance (Pty) Ltd, FSP 46205” to extort money from the unsuspecting public.
Champion Finance is authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act), to render any financial advice and intermediary services.
The FSB also confirmed that Best Debt Finance is an authorised financial services provider.
"The imposters offer people finance and ask for a certain amount of money to be paid for the finance to be released."
Both Champion Finance and Best Debt Finance have confirmed that no connection exists between them and the people offering finance.
The FSB again reminded consumers to check beforehand with the FSB - toll free number (0800 110 443) or on the website www.fsb.co.za - whether an institution or person is authorised to render financial services.
