FSCA Warns Public Against Individuals Impersonating Vista Wealth Management

The Financial Sector Conduct Authority (FSCA), South African financial markets regulator, has warned the public to act with caution 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. 

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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.

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.