The UK Financial Conduct Authority (FCA) has today issued investor warnings against several FX & Crypto Scams. Again, the usual suspects are legal entities in the Marshall Islands and St. Vincent & the Grenadines. In a first quick review of the alleged scams, we found NeoBanq, and Texcent as facilitating payment processors.
- PrimeCap (www.primecap.io)
- Fitrex operated by Irkasio Holdings LTD, St. Vincent & the Grenadines (www.fitrex.eu)
- CFDS Market (www.cfdsmarket.com)
- iForexGain operated by iForex Gain Limited (www.iforexgain.com)
iForexGain claims to be “regulated” by International Financial Market Relations Regulation Center (IFMRRC) with License Number TSRF RU 0395 AA ME-0124. As a matter of fact, IFMRRC is a sort of Russian fake regulator, a private initiative supported by many scammers to give their illegal business a legal painting.
At Fitrex, we again discovered the usual suspects as payment providers with NeoBanq, and Texcent. The scams are not particularly well done and basically easy to spot. Still, many consumers and small investors will fall for it again.
