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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
i) KKR Financial Research Institute
ii) KKR 全球金融研究院 – 香港分站 (Chinese name only)
iii) KKR Finance Academy
Unlicensed entities 14 Dec 2023
i) https://bellevuetrade.com
ii) https://bellevuelimited.com
Suspicious websites 20 Nov 2023
i) www.yangohk.com
ii) www.yangohkfx.com
Suspicious websites 29 Sep 2023
i) https://futu-pro.com
ii) https://futubit.com
Suspicious virtual asset trading platforms 12 Jun 2023
i) www.zjcapital-hk.com
ii) www.zjcapital-hk.vip
Suspicious websites 2 Mar 2023
i) http://djtang.com
ii) www.hkyifu.com.cn
iii) www.hkyifu.net.cn
iv) http://www.hkyifuhk.hk
v) http://www.hkyifugj.com
vi) http://ydjr.sddcsy.com
Suspicious websites 19 Oct 2022
i) www.goldhorsesecurities.com
ii) www.jinmazhengquan.com
Suspicious websites 15 Aug 2022
IH Global Markets Limited Unlicensed entities 11 Feb 2022
Insun Forex Unlicensed entities 10 Feb 2021
Investam HK Unlicensed entities 9 Feb 2021
Investment Management Co. Pty Ltd Unlicensed entities 6 Oct 2020
IFDC Capital Management LLC Unlicensed entities 5 Oct 2020
ILA International Unlicensed entities 18 Jun 2020
Investment Capital and Financial Regulatory Services Fake regulators and/or market operators 17 Jun 2020
IBC Financial Unlicensed entities 5 Jun 2020
IEC International Unlicensed entities 13 Mar 2020
Investment & Finance China Alliance Limited Unlicensed entities 4 Jul 2019
I AM HOLDINGS LIMITED / I'm pro Unlicensed entities 26 Mar 2019
IFD Consulting Limited Unlicensed entities 19 Nov 2018
Incipit Capital International Group Unlicensed entities 28 Sep 2018
ICIC International Unlicensed entities 22 Aug 2018
International Futures Channel Integrated Service Provider Suspicious websites 17 May 2018
Inter Markets Service UK Limited / IMS FX Ltd Unlicensed entities 28 Feb 2018
International Trading Unlicensed entities 9 Nov 2017
Imperial Capital Corporation Limited Unlicensed entities 10 Oct 2017
International Leaders Capital Unlicensed entities 21 Sep 2017
Imperial Equity Holdings Unlicensed entities 21 Aug 2017
IBG Capital Partners Unlicensed entities 14 Aug 2017
Intermediate Capital Group – Millennium Capital Management Ltd Unlicensed entities 11 Jul 2017
Izumi Ventures Unlicensed entities 8 May 2017
iCoption Unlicensed entities 9 Jan 2017
IFIG Asia Suspicious websites 4 Nov 2016
Intergrated Hui Tong Trading Co Ltd / Intergrated Hui Tong Co Ltd Unlicensed entities 1 Nov 2016
IEA Holdings Ltd Unlicensed entities 30 Aug 2016
ITSSO Co., Limited Unlicensed entities 25 Aug 2016
IBC Capital Limited Unlicensed entities 19 Jul 2016
IPC Capital Unlicensed entities 26 May 2016
IGK Broker Limited Unlicensed entities 20 Mar 2014
IOC Group Limited Unlicensed entities 7 Feb 2014
Inter Global Equity Unlicensed entities 7 Jan 2014
IC Markets Hong Kong Unlicensed entities 12 Jul 2013
Idelson Group Unlicensed entities 22 May 2013
International Corporate Advisors Unlicensed entities 25 Apr 2013
International Investor Protection Coalition Fake regulators and/or market operators 15 Mar 2013
International Financial Court (IFC) Hong Kong Fake regulators and/or market operators 15 Nov 2012
InvestTechFX Unlicensed entities 5 Nov 2012
International Mergers Authority Fake regulators and/or market operators 28 Feb 2012
International Securities & Assets Recovery Committee Unlicensed entities 28 Feb 2012
In-Capital Unlicensed entities 7 Nov 2011
International Financial Court Fake regulators and/or market operators 10 Oct 2011
IN Commodities Unlicensed entities 11 Aug 2011
Intereast Securities Ltd Unlicensed entities 22 Jul 2011
ICAP Europe Ltd Unlicensed entities 22 Jul 2011
Institutional Equity Partners Unlicensed entities 18 Jul 2011
Interactive Trade Unlicensed entities 2 Jun 2011
International Court of Finance Unlicensed entities 23 May 2011
International Investor Commission Fake regulators and/or market operators 23 May 2011
International Securities Registry Fake regulators and/or market operators 14 Feb 2011
International Securities & Futures Commission Fake regulators and/or market operators 22 Oct 2010
International Financial Committee Hong Kong Fake regulators and/or market operators 19 Aug 2010
International Securities Exchange Commission Fake regulators and/or market operators 10 Aug 2010
International Trade Oversight Committee Unlicensed entities 12 May 2010
Investex Unlicensed entities 17 Feb 2010
International Equities Organization Fake regulators and/or market operators 6 Nov 2009
Index Easy Suspicious websites 14 Sep 2009
IRS & Partners Unlicensed entities 25 Mar 2009
International Wealth Management Unlicensed entities 16 Jul 2007
Impex Consult Financial & Consulting Group Suspicious websites 5 Mar 2007
International Securities Tax Commission Unlicensed entities 10 Aug 2006
Imperial Trust LLC Unlicensed entities 10 Aug 2006
Innova Equity Unlicensed entities 21 Feb 2006
Irving Horowitz Mergers and Acquisitions Unlicensed entities 29 Dec 2005
Iontrack Limited Unlicensed entities 18 May 2005
International Public Shareholders Protection Services Unlicensed entities 20 Apr 2005
International Options Trading Limited Pty Unlicensed entities 8 Dec 2004
Irvine North Credit Union Suspicious websites 28 Jul 2004
International Options Management Unlicensed entities 28 Jul 2004
Innovative Consulting Inc Unlicensed entities 22 Mar 2004
ITB Limited Unlicensed entities 24 Mar 2003
Imperial Asset Management Limited Unlicensed entities 31 Jan 2002
International Asset Management Co, Ltd Unlicensed entities 19 Apr 2001
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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