Name: Asia Futures Exchange / ASIAFEX
Type: Fake regulators and/or market operators
Address(es): 20-24/F, 9 Queen’s Road Central, Hong Kong
Remarks: The entity gives the above Hong Kong address but it is not located there. It uses three bank accounts in Hong Kong in the names of MUH Holdings Limited, Taccon Limited and Teletech Systems Limited for settlement. It is apparently associated with Mitsubishi Global, an unlicensed entity on the Alert List.
Add date: 10 Oct 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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