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FCA Warning Against eMarkets Trade

CybercrimeIllegal Broker Activities
tamir
Author: tamir
1 min.read
Spread financial intelligence

The UK Financial Conduct Authority (FCA) issued a warning against eMarkets Trader (www.emarketstrade.com) saying that this online broker has been providing financial services or products in the UK without FCA authorization. This illegal broker site is operated by the Cyprus KALESSICA LTD.

According to the information available to FinTelegram, eMarkets Trade is associated with the Bulgarian-Israeli network of illegally operating online trading sites. The website www.emarketstrade.com is officially operated by the Cyprus KALESSICA LTD which was founded in February 2018.

Interestingly, eMarkets Trade offers VoguePay as a payment method. VoguePay is a global online payment gateway that supports multi-currency transactions. The company claims to be Africa’s first blockchain-based digital banking platform. In February 2018, the company announced that it has partnered with INTERPOL for the design of its information portal for crime control in Nigeria.

That said, one may wonder why VoguePay accepts a cybercrime perpetrator such as eMarkets Trade as a client. Maybe the company should apply anti-money-laundering (AML) rules more strictly?

Report Illegal Broker Sites

Illegally operating broker sites are part of fast-growing global cybercrime activities. Millions of investors are defrauded by those broker sites. Hence, it is important to warn investors before such illicit sites. If you are a victim of an illegally operating broker site such as eMarkets Trade, SafeMarkets or Golden Markets please provide information to FinTelegram using our whistleblower system:

Report Illegal Broker Sites
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FinCrime Observer is a financial intelligence site specializing in financial crime in the cyberspace environment. With our reports we want to bring financial crime to the public and help to protect investors.

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