2016-05-13

FSB warns the public against a so-called “tracing agent” in the Eastern Cape

The FSB has received a tip-off that 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. In particular it has been reported to us that:  He charges a consultation fee of R250.00 to any person who seeks his help in claiming a benefit;  He uses forms with the FSB logo on them without FSB permission to do so; and  He requires his clients to sign “power of attorney” documents in terms of which they authorise him to accept payment of their benefits on their behalf. The Financial Services Board (FSB) warns members of the public in that area to be cautious when dealing with him. It has also been reported to the FSB that Mr Matshaya has announced that he will be available for consultations at the premises of the Assemblies of God in N U 2, on 17 May 2016 charging an additional R1000 (one thousand rand) for each consultation. 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. The Financial Services Board again reminds consumers that the Registrar of Pension Funds’ office assists members or beneficiaries in tracing unclaimed benefits and unclaimed shares of surplus by liaising with the applicable funds and/or their administrators. We do not charge a fee for this service. Pension funds and provident funds may not charge a fee for assisting their members to claim the amounts due to them.

https://www.fsb.co.za/NewsLibrary/Press%20Release%20-%20FSB%20warns%20the%20public%20against%20a%20so-called%20%E2%80%9Ctracing%20agent%E2%80%9D%20in%20the%20Eastern%20Cape.pdf