We have learned that scammers have been impersonating legitimate financial firms and their personnel, including our own. Victims report receiving messages on encrypted messaging apps, such as WhatsApp, from accounts that are using images of our advisory staff as the account avatar or profile picture.

Vista Investment Management does not use or conduct business through WhatsApp, Telegraph, or any other encrypted messaging app, and we do not send or accept text messages. Furthermore, we do not send unsolicited messages, and we do not provide investment advice to anybody who is not a client.

If you receive a dubious message that seems to be coming from Vista staff through an app or an online platform, you should be skeptical and assume that it is fraudulent.

If you are a client and receive a suspicious message or any new or unusual type of communication, please contact your advisor using their company phone number or email address to verify the authenticity of the message before interacting with the sender or taking any action encouraged by the message.

Frauds and scams are increasingly sophisticated and have become widespread as online platforms and communication channels proliferate. Bad actors may create convincing fake web sites, social media profiles, emails, phone calls, text messages, or direct messages to deceive individuals into transferring funds or disclosing sensitive financial information.

Recent scams have included:

• Phony job offers, where victims are sent a fraudulent check to purchase a computer and work supplies, then told to transfer the excess amount back to the criminals.
• Promotion of fake investment opportunities through so-called “exclusive investor groups,” where victims are encouraged to join through private messages.
• Text message prompts to “verify a transaction”—clicking the link leads to a fraudulent website that mimics Schwab’s login page. Once the credentials have been entered, the fraudsters use them to access Schwab Alliance. The fraudulent website prompts the client to enter a two-factor verification code that they would automatically receive from Schwab, which once submitted allows the fraudster to complete the login process.
• Relationship scams, where criminals use a fake or stolen identity to gain a victim’s affection and trust. The scammer then uses the illusion of a romantic or close relationship to manipulate and/or steal from the victim.

Resources to help you identify common internet and investment scams:

• https://www.fbi.gov/how-we-can-help-you/scams-and-safety/common-frauds-and-scams
• https://www.investor.gov/protect-your-investments/fraud/types-fraud

If you or someone you know has been a victim of a scam or fraud scheme, you can report it to the FBI’s Internet Crime Complaint Center (IC3): https://www.ic3.gov/

How to Spot a Potential Investment Scam:

• Unsolicited Offers: Be cautious of unexpected emails, phone calls, or messages offering investment opportunities.
• Promises of High Returns with Low Risk: If it sounds too good to be true, it probably is.
• Pressure to Act Quickly: Scammers often create a false sense of urgency, urging you to “act now” or risk missing out.
• Requests for Personal or Financial Information: Never share sensitive information unless you are certain of the recipient’s identity.
• Unusual Payment Methods: Be wary of requests for payment via wire transfers, cryptocurrency, or prepaid cards.

Protect Yourself:

• Verify Identities: Always confirm you are dealing with an official representative of Vista Investment Management. Contact us directly using the information provided on our official website.
• Check Registration: Ensure any investment professional or firm is registered with the U.S. Securities and Exchange Commission (SEC), FINRA, or your local regulatory authority.
• Report Suspicious Activity: If you suspect you have been targeted by a scam, contact us immediately and report the incident to the appropriate regulatory authorities.