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Name: The Asian Financial Services Authority
Type: Fake regulators and/or market operators
Address(es): 44a West Building, Orchard Road
Singapore 238808
Website: www.afsaasia.org
Remarks: The above entity falsely claims that it is developed from national government regulators in the Asian jurisdiction. It is apparently associated with Hong Kong Finance, another unlicensed entity on the Alert List.
Add date: 10 Mar 2011
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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