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Beware of Preve Consulting, FSB warns

Personal Finance

The Financial Services Board (FSB) has issued a warning to the public to act with caution when dealing with Preve Consulting.

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“Preve Consulting Ltd is soliciting money from unsuspecting individuals and promising them high and unrealistic interest rates within five to 30 days,” according to a press release issued by the regulator.

On the website www.preveconsulting.co.za, the company claims to be an authorised financial services provider (FSP), operating under FSP number 182. However, this FSP number belongs to FNB Securities (Pty) Ltd.

“FNB Securities has advised the FSB that it has no business relationship with Preve Consulting Ltd, nor has it authorised Preve Consulting Ltd to use its FSP number.”

Preve Consulting Ltd is not authorised in terms of the Financial Advisory and Intermerdairy Services Act to render any financial advice or intermediary services. Anyone that sells a financial product, or provides financial advice, must be licensed by the FSB, and should have an FSP number.

Before you do business with any entity offering a financial service or product, first check with the regulator if the business is licensed and what it is licensed to sell. You can do this by calling the FSB’s toll free number (0800 110 443) or by visiting www.fsb.co.za.

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