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Name: Taiwan Options and Futures Exchange
Type: Fake regulators and/or market operators
Address(es): i) East Millennium Tower, 419 Kwun Tong Road, Kowloon, Hong Kong
ii) Nei-Hu Finance Center Shitan Road 31/1 Neihu District
Website: www.twofx.org
Remarks: The organisation's Hong Kong address is invalid. It uses two bank accounts in Hong Kong in the names of Rystal Limited and Drobium Limited for settlement. It is apparently associated with Idelson Group, an unlicensed entity on the Alert List.
Add date: 22 May 2013
Fake regulators and/or market operators

Creating a fake regulator and/or market operator website is one of the tricks used to deceive unwary investors into thinking that certain unauthorised financial institutions or intermediaries listed on that website are supervised by a real regulator and that they conduct their trades through a recognised market operator (e.g. stock exchanges). The scamsters create a website for a non-existent financial regulator or market operator with a plausible name. Such a website is usually sophisticated and often contains up-to-date financial news to create a false impression of authenticity. In fact, no such financial regulator or market operator exists under that name.

To check whether a financial regulator and market operator really exists, see the member lists of the International Organization of Securities Commissions and the World Federation of Exchanges respectively.

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