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The Alert List is a list of entities which have come to the attention of the SFC because they are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong. You can either search by name or by type to check whether an entity is already on the list. This is not a comprehensive list and new names are coming to our attention all the time. We will add to the list as we hear of new names. If you have been contacted by an unlicensed firm, it would be of assistance to the SFC if you would provide information on your dealings with that firm by completing our online complaint form.

To see the names of suspicious virtual asset trading platforms added to the Alert List since January 2020, please search by type and choose “Suspicious virtual asset trading platforms”.

For further information on boiler rooms, scam websites and phishes, please follow the links.

Note: The information contained on the Alert List is provided as an early warning service to investors but is not a substitute for investors conducting their own due diligence by checking up on a particular entity.

Please view the list by selecting the first alphabet that starts off the name of each entry or the sub-group labelled “Chinese” for entities bearing only Chinese names:

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Explanation (Click for details):
Search tips:

This is a keyword search based on exact phrases. To facilitate searching, please only enter the keywords "AAA" in the search field when searching for "AAA Co", "AAA Company", "AAA Ltd", "AAA Limited" or "AAA Inc".

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Chinese Others
Company name Type Add date
DIFX Suspicious virtual asset trading platforms 18 Jan 2024
DP Investment Advisors Ltd / DP Investment Advisors (HK) Ltd Unlicensed entities 3 Jan 2024
Dachang International Financial Holdings / Da Chang Internationality Unlicensed entities 10 Oct 2023
De Beer Capital Unlicensed entities 25 Aug 2023
Unlicensed entities 9 Nov 2022
DingHui International Limited Unlicensed entities 15 Aug 2022
DC Witter Group Unlicensed entities 30 May 2022
Durham Capital Investments Unlicensed entities 21 Feb 2022
Dunbar Consultants Limited Unlicensed entities 20 May 2021
Dakras Markets Limited Unlicensed entities 12 Mar 2021
DingSheng International Co., Ltd Unlicensed entities 10 Feb 2021
DUP Capital Limited Unlicensed entities 7 Jan 2021
Dawn Raid Unlicensed entities 2 Jan 2020
DSFFX Unlicensed entities 2 Sep 2019
Dace Motor Company Unlicensed entities 24 Jul 2019
Delta Capital Unlicensed entities 11 Jun 2019
Duke Valentine Limited Unlicensed entities 29 May 2019
Dawn Light Asset Management Unlicensed entities 1 Feb 2019
DB Services Limited / DBS Ltd, HK Unlicensed entities 19 Nov 2018
DBKY Investment Holding Co. Limited Unlicensed entities 19 Oct 2018
DongXing Futures Limited Suspicious websites 18 May 2018
DSW Enterprises L.L.P. / DSW Partners Unlicensed entities 8 Sep 2017
DTCM Capital Management Limited / DTCM Asset Management (HK) Limited / DTCM Consulting Limited Unlicensed entities 6 Sep 2017
Direct Asset Partners Unlicensed entities 21 Jul 2017
Davos Financial Investment Group / DFIG HK Unlicensed entities 17 May 2017
DA Corporation Partners Unlicensed entities 20 Feb 2017
Drukenmiller Investment Services Unlicensed entities 5 Jan 2017
DFRF Enterprises, LLC Unlicensed entities 28 Dec 2016
DFRF Enterprises LLC Unlicensed entities 23 Dec 2016
Dashan International Unlicensed entities 4 Nov 2016
Dukes Copy Limited Unlicensed entities 20 Oct 2016
Dodson Norwood Unlicensed entities 10 Aug 2016
DP Consulting Group Unlicensed entities 6 Jul 2016
DaTong Global Unlicensed entities 5 Jul 2016
Daikyo Brokerage Limited Unlicensed entities 4 Jul 2016
DAG Consultants Limited Unlicensed entities 11 May 2016
Daishi Capital International Wealth Management Unlicensed entities 26 Oct 2015
Delacorte Dubois and Company Limited Unlicensed entities 10 Sep 2015
David & Maria Limited Unlicensed entities 7 Sep 2015
Department of Foreign Securities Fake regulators and/or market operators 17 Jul 2015
Deep Blue Group Unlicensed entities 8 Sep 2014
Doyle Hutton Associates Unlicensed entities 7 Mar 2014
DAB Asia Limited Unlicensed entities 7 Jan 2014
Dingfeng International Corporation Unlicensed entities 6 Dec 2013
Dinosaur Assets Management (HK) Limited Unlicensed entities 21 Aug 2013
Dinosaur Investor Services (UK) Limited / Dinosaur Investor Services Unlicensed entities 21 Aug 2013
DM INDEX Suspicious websites 19 Jul 2013
Dupont Securities Unlicensed entities 12 Jul 2013
DS Forex Unlicensed entities 12 Jul 2013
Denison Newbrook Reid Unlicensed entities 29 May 2013
Duke International Asset Management Company Limited Unlicensed entities 14 May 2013
Delacour Investments Unlicensed entities 7 Nov 2012
Days of Gold Company Ltd Unlicensed entities 2 Nov 2012
Dawson & Crane Incorporated Unlicensed entities 23 Jul 2012
Diversified Assets Authority Fake regulators and/or market operators 26 Oct 2011
Devonshire & Douglas Capital Partners Unlicensed entities 27 Sep 2011
Dividium Asia Limited Unlicensed entities 3 Jan 2011
Diversified Capital Unlicensed entities 29 Nov 2010
Delta Continental Unlicensed entities 18 Nov 2010
Dynamic Wealth Management Unlicensed entities 18 Nov 2010
Dividium Capital Group International Unlicensed entities 9 Sep 2010
Digits Financial Hong Kong Company Unlicensed entities 8 Mar 2010
Dawson and Raymond M & A Unlicensed entities 19 Oct 2009
DES Options Unlicensed entities 16 Jun 2009
Dongyin Futures Brokerage Company Limited Unlicensed entities 17 Jul 2007
Donavan & Yung Partners Unlicensed entities 27 Feb 2006
Decatur International, Inc. Unlicensed entities 21 Sep 2005
Devlin Stern & Associates Unlicensed entities 21 Jul 2005
D M Gray Consulting Unlicensed entities 15 Oct 2004
DKM Global Management, Inc Unlicensed entities 18 Aug 2004
Douglas Baker & Co Unlicensed entities 22 Mar 2004
Dynasty International Acquisitions Unlicensed entities 16 Dec 2003
De Verre Lloyd & Co Ltd Unlicensed entities 22 Oct 2003
Drexel Asset Management Unlicensed entities 30 Jul 2003
Dreyfus Capital Unlicensed entities 2 Nov 2000
Unlicensed entities

Sometimes entities appear to target Hong Kong investors whilst not having been licensed to carry out regulated activities in Hong Kong. They often adopt names similar to legitimate financial institutions to confuse investors. Alternatively, such unlicensed entities may provide financial investment trading platforms on the Internet. If you deal with a company which is not licensed by the SFC, you may not be protected by the regulatory framework enforced by the SFC.

Deal only with licensed entities and hang up on cold callers. To check whether an entity is an SFC licensee, visit our Public Register of Licensed Persons and Registered Institutions.

Suspicious websites

Dubious websites may offer too-good-to-be-true investment opportunities (e.g. pre-IPO stocks of fabricated companies sold at huge discounts, or funds with guaranteed multiple returns) that do not actually exist. Alternatively, such websites may be fraudulent copycat websites imitating the websites of reputable financial institutions to lure investors to part with their money and/or disclose personal information that the fraudsters may later use to swindle investors.

Do not respond to investment website offers unless you are sure of the legitimacy of the entity.

Suspicious virtual asset trading platforms

Do not respond to suspicious virtual asset trading platform (VATP) offers if its operator is not licensed. To check whether a VATP is licensed by the SFC, please visit our List of licensed virtual asset trading platforms. 

Some VATPs that appear to operate in Hong Kong or target Hong Kong investors may not have a licence to provide virtual asset service or carry out regulated activities in the city. They may lure investors with too-good-to-be-true investment offers, falsely claim to be or soon to be licensed in Hong Kong and/or overseas, or promote themselves aggressively through social media, instant messages, so-called “key opinion leaders” (KOLs) or any other forms of advertisements.

If you deal with a VATP which is not licensed by the SFC, please note that it is unregulated and not supervised by the SFC. You may lose your entire investment held on the VATP if it ceases operation, collapses, is hacked or otherwise suffers from any misappropriation of assets. Seeking recourse against those VATPs without a nexus with Hong Kong can be very difficult and legal remedies may not be available.


Phishes usually imitate legitimate financial institutions to despatch emails to entice recipients to disclose their credit card / bank account numbers and passwords / Personal Identification Numbers (PINs). If you provide this information, you may find your account is drained of money.

Most legitimate banks will never email you asking for your details or PIN. If in doubt, contact your bank directly.

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.


Last update: 3 Oct 2020

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