The Financial Services Commission (FSC) has confirmed that World Ventures Holdings is not regulated to sell financial products in Jamaica. The regulatory body has also hinted at possible action against persons luring Jamaicans into spending their cash to join up with the entity.

“The FSC has received information that individuals purporting to solicit business on behalf of World Ventures are operating in Jamaica, and our investigations into the activities of these individuals in Jamaica is ongoing,” the regulatory body said in response to questions from The Sunday Gleaner.

“World Ventures is not licensed by the Financial Services Commission to conduct securities business in Jamaica,” added the regulatory body.

World Ventures Holdings, which is based in Texas in the United States, had already told our news team that it does not operate in the island despite claims by some Jamaicans that they are raking in millions by signing up with the investment club.

However, the FSC warned that while its investigations into these claims are ongoing, Jamaicans should note that it is not uncommon for unscrupulous persons to use the name of international companies to deceive unsuspecting persons.

“As a general comment, the FSC urges members of the public to exercise due diligence and caution before parting with their money,” said the FSC.

“Members of the public are also urged to exercise caution, since individuals may leverage the name and goodwill of legitimate companies in order to induce persons to invest their money, without actually being affiliated to or representing those companies.”

 

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