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, 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.”
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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.
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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) 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.
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