Standard Bank is warning the public about a fraudulent entity and website that uses the bank’s information in an attempt to legitimise its illegal activities.
In a statement, the big-four bank says the entity operates under the name Direct Access Finance and claims to be located at Standard Bank Centre, 5 Simmonds Street, Johannesburg.
It operates a website purporting to assist consumers with credit solutions.
According to Standard Bank, the website attempts to garner legitimacy by associating its physical address with that of Standard Bank and links itself to Blue Granite 2, one of the bank’s subsidiaries.
It points out that Direct Access Finance is not registered with the National Credit Regulator, and has no legal mandate to advise on or provide financial credit.
“Standard Bank has no direct or indirect association with the entity and/or website in question, and we urge consumers not to confuse it with other legitimate financial services providers that may have closely related names.”
Standard Bank says it has reported the matter to the relevant regulators, and is pursuing measures for the illegal website to be taken down.
“We encourage the public to always ensure they are dealing with registered financial services providers to avoid falling victim to scams of this nature.”
Consumers are advised to borrow from lenders registered with the National Credit Regulator, as they are bound by the National Credit Act.
Direct Access Finance had not responded to ITWeb’s request for comment by the time of publication.
Share