Australian regulator ASIC has just issued a warning against the scam companies Luxembourg Offshore Banking and LUXOSB Limited. Scammers are claiming to be from ASIC, although they are not regulated it, nor licensed or authorised in Australia to provide financial services. Both scam companies are using the cold-calling method, and claim to offer an investment…
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Continuing its efforts to clean up the Retail FX sector in Australia, ASIC has issued a warning to the public not to deal with any of the following entities in relation to trading in margin FX contracts for difference (CFDs) and bitcoin CFDs: AGM Markets: AGM Markets Pty Ltd, holding AFSL license No 422662. Registered business…
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Mr Stephen Burgin, an authorised representative of Interprac Financial Planning, closed his website steveburgin.com.au in response to concerns raised by ASIC. ASIC was concerned by images and references on the website which may have implied endorsements or approvals which were not actually held. This includes references to Mr Burgin as: A Senior ASIC Licensed Adviser;…
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The Australian Securities and Investments Commission (ASIC) warned its Registry customers to be vigilant of scam emails purporting to be from ASIC. Some customers have received emails containing attachments or links to fake invoices. Fake emails may look different to ASIC emails and generally instruct the recipient to click a link to make a payment…
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Australia financial regulator ASIC has announced that it has imposed additional conditions on the Australian financial services licence of online broker OpenMarkets Australia Limited. This action follows surveillance activities which identified concerns in OpenMarkets: arrangements for identifying and preventing potential market misconduct (for example, inadequate automated filters in its automated order processing (AOP) systems and…
Read moreASIC is warning the public not to click on any advertising being marketed under the brand Titantrade, a website by which trading in binary options is being offered. The U.S. Commodity Futures Trading Commission’s (CFTC), the Ontario Securities Commission (OSC) and Italy's Consob have already warned against Titantrade binary options website. The public should avoid using the…
Read moreThe Australian Securities and Investments Commission (ASIC) today issued a warning against Market City International SRL (Market City International), trading as BROKERS500 through the website www.brokers500.com. BROKERS500 presents itself as a leading online trading broker specialising in stocks, commodities, CFDs and currencies. The website claims (see image below) that Market City International holds an Australian…
Read moreOpteck.com is operated by Belize-based company B.H.N.V Online Ltd (BHNV). BHNV does not hold an AFS licence, nor is it an authorised representative of an AFS licensee
Read moreGTL TradeUp's director, Pakistani businessman Mahmood Riaz, is also allegedly linked to another $36M forex fraud case in Italy. Australia's financial regulator ASIC has been busy lately in the forex sphere. After warning investors yesterday about Aussie Rob and his supposed magic trading software, ASIC today issued a more general warning to retail traders about the…
Read moreRobert Lloyd Wilson aka 'Aussie Rob' claimed up to 120% returns from his Lifestyle Trader software; but there's more... Australian's financial regulator ASIC has issued a statement informing the public about the participation of Mr. Robert Lloyd Wilson also knows as "Aussie Rob" in a rather outrageous misleading and deceptive marketing practice soliciting customers to…
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