FSCA Warns Public Against Edge Financial Loan and Edge Loans

The Financial Sector Conduct Authority (FSCA), South African financial markets regulator, has warned the public to act with caution when dealing with an entity with the trade names of Edge Financial Loan and Edge Loans.

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The entity has created websites and other media communications on multiple social media platforms inviting the public to obtain loans from them. The FSCA is concerned about the legitimacy of the entity because it is displaying the financial services provider (FSP) number and other details, like the physical address, of a legitimate financial services provider, Edge Financial Group on its web pages and media communications.

Edge Financial Group has made it clear that this entity has no ties to Edge Financial Group, and it has not given permission to the entity to use its name, FSP number or branding to the entity.

The FSCA warns that members of the public should always check that an entity or individual is registered with the FSCA to provide Financial Advisory & Intermediary Services and what category of advice it is that the entity is registered to provide. 

It again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSCA as to whether or not such institution or person is authorised to render financial services.