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Screenshot of a breaking news alert e-mail from Q2 2017
Russia’s Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN), the country’s Forex self-regulatory organization has just enlarged its “Black List” of fraudulent companies.
The latest addition is Trade Union, a business entity offering Forex investment services via https://trade-union.org/index.php.
CRFIN has included the company in its “Black List” because:
The company promises artificially high and guaranteed returns: up to 6% on investment per day.
Promises of substantial bonuses for attracting new clients: up to 5% of the deposits attracted;
Lack of objective guarantees that client funds can be returned and that the hefty rewards will be paid;
The project has signs of pyramid as there is no other apparent way of paying existing clients than using the money of new ones;
The company is positioning itself in a misleading way – it uses terminology from the banking sector (“deposit”, “floating percentage”), whereas it has no licenses to operate as a financial business.
As of today, CRFIN’s “Black List” has 43 entries, including notorious names like Forex MMCIS. Many of the companies that are included in the list have already terminated their operations. Most recent examples include Alfareserve and Monolith Invest.
The official text of CRFIN’s warning (in Russian) can be found here.
To view the full “Black List”, click here.