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Careful When Dealing With @Leadership_Tassin_Meyer on Telegram

The FSCA has issued a public warning regarding the impersonation of Visio Fund Management Pty Ltd and Mr Tassin Meyer.

The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with persons purporting to be associated with financial services provider (FSP) Visio Fund Management Pty Ltd (Visio Fund) (FSP 49566) and its former employee Mr Tassin Meyer (Mr. Meyer).

It has come to the FSCA’s attention that administrators of a Telegram group using the name ‘Visio Fund Management’ and profile @Leadership_Tassin_Meyer, are using the FSP number of Visio Fund and details of Mr Meyer to promote and solicit investment in Bitcoin. Visio Fund confirmed that it and Mr. Meyer are not associated with the Telegram group and its administrators. Despite its efforts to make contact, the FSCA was unable to reach the administrators of the Telegram group for comment.

The public is strongly urged to exercise caution when considering unsolicited investment or trading offers, especially those communicated through social media. The public is urged to act with care when investing their funds. There are many fraudsters operating scams, and the number is growing. South Africans lose millions of rands every year to fraudsters. Illegal operations are sometimes well-disguised as legitimate operations. The public is advised to be on the lookout for certain tell-tale danger signs when approached by persons offering attractive investment opportunities.

These red flags include:

  • Unrealistic or exaggerated returns
  • Offers made on social media platforms
  • Requirements to pay for services upfront
  • Requirements to pay more money to have your investments returned
  • Requirements to pay for training
  • Claims that you must act and pay urgently i.e. creating a sense of urgency
  • Vague information about the investment product.

Members of the public may use one of the following methods to confirm whether a service provider or person is authorised to act as an FSP by the FSCA, including to verify their FSP number:

  • To confirm whether a person or institution is authorised, contact the FSCA on the toll-free number 0800 110 443 or visit https://www.fsca.co.za/Fais/Search_FSP.htm.
  • Suspicious activities can be reported via the Ethics and Fraud Hotline at 0800 313 626, by email at fsca@behonest.co.za, or online at www.behonest.co.za.
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