Swiss and British Financial Watchdogs Warn of More Unregulated Brokers and Scam Clones
- More scammers exposed by international regulators for the identity theft of legal corporations or targeting clients in markets where they are not authorized or licensed to.
An increasing number of scammers are being exposed by regulators worldwide for the identify theft of legal corporations or targeting clients in markets where they are not authorized or licensed to.
The UK's Financial Conduct Authority (FCA) recently reported that it had discovered two more such clone firms. City Equities Ltd, which on its site (www.cityeq.com) claims to have over 25 years' experience and a license from 15 regulatory bodies, is in fact a "Boiler Room" scam, ripping off the name of City Equities Limited with which it has no association.
The second "Boiler Room" clone scam recently reported by the FCA goes by the names of, Fredric & Formby, Fredric and Formby and Fredericks Ltd. The fraudsters behind this scheme did not even bother to create a website, and targeted their victims via phone calls and an email address (enquiries@fredricformby.co.uk). The scammers involved stole the identity of Miss Charlotte Louise West of the Royal Bank of Scotland.
Meanwhile, the Swiss Financial Market Supervisory Authority (FINMA) has recently reported two uauthorized institutions claiming to be Zürich-based. The first is Tradmaker, an MT4 and SIRIX platform broker offering CFDs, Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term trading. The second warning was against iStock Capital, which FINMA claims does not exist at the given address. FINMA has added the two firms to its "negative list" of financial companies.
An increasing number of scammers are being exposed by regulators worldwide for the identify theft of legal corporations or targeting clients in markets where they are not authorized or licensed to.
The UK's Financial Conduct Authority (FCA) recently reported that it had discovered two more such clone firms. City Equities Ltd, which on its site (www.cityeq.com) claims to have over 25 years' experience and a license from 15 regulatory bodies, is in fact a "Boiler Room" scam, ripping off the name of City Equities Limited with which it has no association.
The second "Boiler Room" clone scam recently reported by the FCA goes by the names of, Fredric & Formby, Fredric and Formby and Fredericks Ltd. The fraudsters behind this scheme did not even bother to create a website, and targeted their victims via phone calls and an email address (enquiries@fredricformby.co.uk). The scammers involved stole the identity of Miss Charlotte Louise West of the Royal Bank of Scotland.
Meanwhile, the Swiss Financial Market Supervisory Authority (FINMA) has recently reported two uauthorized institutions claiming to be Zürich-based. The first is Tradmaker, an MT4 and SIRIX platform broker offering CFDs, Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term trading. The second warning was against iStock Capital, which FINMA claims does not exist at the given address. FINMA has added the two firms to its "negative list" of financial companies.