New Zealand’s FMA: Be Wary of Credit Capital International
- The entity appears to be a clone firm of a legitimate New Zealand registered company.
The Financial Markets Authority (FMA), the New Zealand government agency responsible for financial Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term, has flagged yet another operation as suspicious this Thursday morning.
Today, the New Zealand regulator has warned that the persons operating the websites www.cncmeta.com and www.2cmeta.com, which according to the websites, is an entity by the name of Credit Capital International, have “several hallmarks of a scam.”
Furthermore, the watchdog highlights that the entity connected to the two websites is not associated with New Zealand incorporated company and Registered Financial Service Provider Credit & Capital Limited.
It is not clear whether Credit Capital International is a clone firm, i.e., a company which copies details from an authorized company to appear legitimate, however, the close proximity of its name to that of Credit & Capital Limited hints that it could very well be.
Credit Capital International Claims to be an FX Trading Provider
Taking a look at its websites, which appear to be identical, Credit Capital International claims to be a foreign exchange (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 contracts-for-difference (CFD) trading provider, offering opportunities in commodities, precious metals, and currencies.
Via its website, the entity claims to be a New Zealand-registered company, citing FSP5974628 as its license number. However, when trying to search for this number in the New Zealand Companies Office, there appears to be no company attached to this number, so it is most likely made up.
On its background, the website states: “Credit Capital International was originally founded by investment bankers and professionals in the industry. The founders and management team of Xinzi International have been deeply involved in the financial industry for decades…”
Because of the warning from the FMA and the license number which appears to be fake, residents of New Zealand should avoid dealing with this company, especially when it relates to transferring funds, as you might not ever get them back.
The Financial Markets Authority (FMA), the New Zealand government agency responsible for financial Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term, has flagged yet another operation as suspicious this Thursday morning.
Today, the New Zealand regulator has warned that the persons operating the websites www.cncmeta.com and www.2cmeta.com, which according to the websites, is an entity by the name of Credit Capital International, have “several hallmarks of a scam.”
Furthermore, the watchdog highlights that the entity connected to the two websites is not associated with New Zealand incorporated company and Registered Financial Service Provider Credit & Capital Limited.
It is not clear whether Credit Capital International is a clone firm, i.e., a company which copies details from an authorized company to appear legitimate, however, the close proximity of its name to that of Credit & Capital Limited hints that it could very well be.
Credit Capital International Claims to be an FX Trading Provider
Taking a look at its websites, which appear to be identical, Credit Capital International claims to be a foreign exchange (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 contracts-for-difference (CFD) trading provider, offering opportunities in commodities, precious metals, and currencies.
Via its website, the entity claims to be a New Zealand-registered company, citing FSP5974628 as its license number. However, when trying to search for this number in the New Zealand Companies Office, there appears to be no company attached to this number, so it is most likely made up.
On its background, the website states: “Credit Capital International was originally founded by investment bankers and professionals in the industry. The founders and management team of Xinzi International have been deeply involved in the financial industry for decades…”
Because of the warning from the FMA and the license number which appears to be fake, residents of New Zealand should avoid dealing with this company, especially when it relates to transferring funds, as you might not ever get them back.