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Name: Regulatory Compliance and Oversight Department
Type: Fake regulators and/or market operators
Address(es): 1100 4th Street SW, Washington DC, USA
Remarks: The entity falsely claims to be a US Government agency. It uses a bank account in Hong Kong in the name of Yexing Technology Limited for settlement.
Add date: 22 Sep 2017
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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