Hong Kong's Securities and Futures Commission (SFC) has earlier today updated its Alert List, with the latest addition being Crown Star Investment Limited. The company, operating via www.csigrouphk.com, offers a variety of investment services and claims to be regulated by Hong Kong authorities. The SFC says that the company is not licensed and notes that…
Read moreThe UK Financial Conduct Authority (FCA) continues to issue warnings against clone firms – unauthorized entities that abuse the details of authorized firms in order to easily lure investors. The UK regulator today issued a warning against another clone - Swiss Investment, operating via www.investmentswiss.com/en/. The company offers a variety of FX services, while misusing…
Read moreThe UK Financial Conduct Authority (FCA) keeps its conquest against clone firms – unauthorized entities that abuse the details of authorized firms in an effort to defraud investors more easily. The latest warning concerns Markets Central Investment, a company which misuses the details of an FCA-licensed firm - Central Markets (London) Ltd. The clone entity,…
Read moreThe Forex industry has been increasingly targeted by clone firms, that is, unauthorized companies that emulate the data, including names, websites, etc., of licensed entities, in order to easily defraud investors. The UK Financial Conduct Authority (FCA) is amid the regulators that actively warn against this practice. The watchdog published a special announcement yesterday regarding…
Read moreThe UK Financial Conduct Authority (FCA) keeps encountering cases of unlicensed companies willing to make use of data of authorized entities and thus attract more clients. The latest example of the use of this practice, which has become known as cloning, concerns UK Forex broker Atom8, which appears to have two clones, abusing its name,…
Read moreUK financial regulator the Financial Conduct Authority (FCA) has issued a warning against a clone of regulated forex broker IIB International Broker. The real IIB, which also goes by IIB FX, is based in Sofia, Bulgaria. According to the FCA, fraudsters are using or giving out the following details as part of their tactics to scam…
Read moreThe practice of corporate cloning - fraudsters using the details of authorized firms to convince people that they work for a genuine, authorized company, keeps gaining momentum in the Forex industry. One more piece of proof in this respect comes from the UK Financial Conduct Authority (FCA), which today published a warning regarding an unauthorized…
Read moreA couple of weeks after Australian Forex broker MahiFX complained about Great Trade misusing its data, Belize's International Financial Services Commission says the certificates on Great Trade's website are forged.
Read moreThe regulator has added Capstone Securities, Capstone Currency Group and Capstone Alliance Group to its Alert List, stressing that they are not authorized in Hong Kong and have nothing to do with Capstone Financial (HK) Ltd.
Read moreGreat Trade, which shows signs of a high-yield investment program, misuses the data of MahiFX, including the names of the senior management of the Australian retail Forex broker.
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