Name: Seoul Options and Futures Exchange
Type: Fake regulators and/or market operators
Website: www.sofx.org
www.mofex.org
Remarks: It uses three Hong Kong bank accounts in the names of Tannon Limited, Metzer Limited and Stacasia Limited for settlement. It is apparently associated with Lefroy Hudson, another unlicensed entity on the Alert List.
Add date: 31 May 2012
Note:
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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