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Name: New York Regulatory Division
Type: Fake regulators and/or market operators
Address(es): 20 Broad St, New York, NY 10005, USA
Website: www.nyregdiv.org
Remarks: The organisation uses bank accounts in Hong Kong in the names of Tingfa Trading Co Limited and Derunchang Trading Limited for settlement. It is apparently associated with Levine & Levine Law Specialists, an unlicensed entity on the Alert List.
Add date: 7 Feb 2018
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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