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FSCA warns the public against individuals impersonating Vista Wealth Management

27 August 2021 The Financial Sector Conduct Authority (FSCA)

The Financial Sector Conduct Authority (FSCA) warns the public to be cautious and vigilant when dealing with individuals impersonating Vista Wealth Management (Vista) on WhatsApp messenger. Vista is an authorised financial services provider (FSP number: 51102) with no affiliation with these individuals.

The FSCA received information that four (4) individuals are claiming to represent Vista on WhatsApp and soliciting investments from members of the public. Vista has confirmed that they do not have any ties to these individuals, nor do they conduct business through WhatsApp. They have also published a warning to their clients to not give these individuals any money. The FSCA also believes that their use of Vista’s name in this scam is to mislead and dupe unsuspecting investors to deposit their money into an unauthorised business.

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. The FSCA again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSCA on either the toll free number (0800 110 443) or on the website www.fsca.co.za/Fais/Search FSP.htm as to whether or not such institution or person is authorised to render financial services.

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