Financial Commission is Latest Target of Clone Fraudsters

The clone website impersonates the organization in many areas and contexts.
Photo: Bloomberg

The Financial Commission (FinaCom PLC), an industry-specific dispute resolution service that caters to the financial services industry, today announced that it believes that a company going by the name ‘Mira Capital Markets’ has been impersonating its membership through a cloned website that mimics some aspects of the self-regulator.

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FinaCom states in its announcement that the suspicious company, which operates through the website MiraMarkets.com, lists false membership details and links to a website that is a clone of that of the Financial Commission to fraudulently convince investors that it is a member of FinancialCommission.org.

Besides clarifying that the firm in question lacks the proper authorisation to advertise its engagement with commission, FinaCom also said that it strongly advises investors to only deal with financial firms that are authorised, and to check the its register to ensure that they are.

The Financial Commission has also warned against fincommission.com which tries to usurp the identity of the FinaCom itself in order to give the appearance of trustworthiness and legitimacy.

The commission said that the clone website impersonates the organization in many areas and context. In addition, the clone website lists a few names of FinaCom’s brokerage members, many of whom have contacted the agency to inquire about its legitimacy.

The Financial Commission finally noted: “The great lengths that companies may go to help perpetrate a fraud can be difficult for even the most cautious investors to detect. Be sure that the .org suffix is at the end of the URL when searching for our website, or clicking on related links when attempting to visit FinancialCommission.org.”

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