Scammers Increasingly Using Fake Vanuatu Licenses

The Financial Commission / Media posts / Scammers Increasingly Using Fake Vanuatu Licenses

The Vanuatu Financial Services Commission (VFSC) has published a notice regarding some unauthorized companies that have been using fake license certificates in their operations and may be “illegally carrying out” financial services. Such instances are common today, as regulators have had to deal with clones, fake licenses and other deceitful actions on the part of scammers trying to unjustly provide clients with proof of registration or licensing in one country or another.

The VFSC stated that: “[it] wishes to advise that it is not the regulator of the above companies and anyone engaging in business with them should not consult the VFSC for any irregularities arising from their business dealings.” The companies in question using the Vanuatu licenses illegally are: BSFOREX Group, Citadel Capital Fx, IC Finance Limited, Rock Capital Markets, Lidya Trade, StockTradeMarket, Tior Capital, SimplexForex, Sti Global, Planet Traders, Topglobalco, LED Capital, MalleyCapital, TradeWEBsef, FXPays and Dekocorp.

The Vanuatu Financial Services Commission also reminds traders that “before trading with any online platform, please verify the status of their license with their respective regulatory body. If you identify a website using the VFSC Financial Dealers certificate, do inform us accordingly on [email protected].” Traders can also use our ‘Check Your Broker’ directory to quickly find out the status of their broker with the Financial Commission.

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