Dukascopy Bank of Switzerland, one of the most prominent brokerages in the industry, has been targeted by a clone website. The entity behind dukascopi.com is violating the trademarked name of the Geneva-based financial services provider.
The entity servicing the website is Mercure Services Ltd. The firm is based in Kingstown, the capital of St Vincent and the Grenadines. The entity dukascopi.com claims to be based in Geneva, Switzerland. The address listed on the website does not correspond to any business entity based in the country. Moreover, the firm claims to be located on the same street as Dukascopy Bank.
Websites that use fake data to purport regulation and mislead clients are a major issue for the industry.
FBS Receives Best Forex Broker Europe 2019 Award by The European MagazineGo to article >>
While dukascopi.com doesn’t copy the design language of the website of Dukascopy Bank, the entity copies the address of the FINMA-regulated company almost in its entirety.
The Dukascopy brand name has been a popular target for clone companies due to its popularity. Impostor websites, usually registered offshore, are very difficult to track.
Commenting on the matter to Finance Magnates, the company said in a statement: “At Dukascopy Bank we do our best to combat scams, not only to protect our reputation but also to limit the number of their victims. The Executive Committee of Dukascopy Bank currently takes actions against https://dukascopi.com.”
“In the previous case reported by Finance Magnates, Dukascopy Bank obtained the termination of the fraudulent website. We hope for the same outcome,” the firm concluded.