New Zealand Financial Markets Authority added Royals FX, Bitcoin System, CTX Prime, Coinsure LTD, Investam HK, Coindeck and King-Banner, KML Investments Limited and Acquisition Direct Facilitators to its warning list.
The New Zealand regulator has advised people to operate with caution when dealing with the foreign exchange dealers due to concerns they may be involved or operating a scam.
The regulator reported the following details of the two companies:
Coinsure LTD is offering unrealistically high returns and is requesting upfront payment before withdrawals can be made. The company is also falsely claiming to be associated with Coinsure Limited, an entity incorporated in New Zealand.
The FMA reported that representative from Investam HK have made unsolicited contact with a New Zealand resident offering financial products. Investam HK is not registered on the Financial Service Providers Register, and it is not allowed to provide financial services or financial products in New Zealand.
Coindeck: Harju Maakond, Tallinn, Kesklinna linnaosa, Pärnu mnt 158/2-88, 11317, Estonia
King-Banner: Oslo Business Park, 5 Haakon VIIs gate, Oslo, Norway
The FMA received a report from a New Zealand resident who invested in Coindeck following a fake New Zealand Herald article mentioning significant returns from investing in Coindeck’s products. The client’s investment account is being managed by King-Banner, who are withholding client funds. Coindeck and King-Banner are not incorporated companies or registered financial service providers in New Zealand. They are therefore not permitted to provide financial services/products to New Zealand residents.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.