The Registrar of Banks ("the Registrar"), being the official regulator of banks in the Republic of South Africa in terms of the Banks Act, 1990 (Act No. 94 of 1990 - "the Banks Act"), in the public interest, wishes to make the following statement:Subsequent to an investigation conducted by the Office for Banks in terms of the Banks Act, it was established that the company styled Josel Properties (Pty) Limited, trading as Care Financial Services & Investment Brokers (hereinafter referred to "Care Financial Services"), with its main place of business at 3 Staffordshire Place, Marine Drive, Shelly Beach, was evidently conducting the business of a bank in contravention of the provisions of the Banks Act. The business of a bank entails, inter alia, the soliciting, advertising and acceptance of monies from the general public on the basis that such monies would be repaid at a future date. Care Financial Services was consequently directed by the Registrar, in terms of the Banks Act, to repay all monies obtained as mentioned above, in so far as such money has not yet been repaid, to members of the public from whom the money was collected. The Registrar has reason to believe that Care Financial Services: - Will not be able to repay all the monies procured in the above-mentioned manner.- May currently still be soliciting, advertising and accepting further deposits from the general public. Members of the public are hereby informed that the taking of deposits from the general public by persons not registered as bank is a criminal offence and is punishable with a fine not exceeding R100 000,00, or imprisonment of a period not exceeding five years, or both. Registrar of Banks ​