Surrendering of Securities Dealer Licence of AMALGA SECURITIES LTD (SD003) and Securities Dealer Representative Licence of Mr. Craig Johnson (SDR083)

 The Financial Services Authority (“FSA/Authority”) hereby gives notice to the general public, pursuant Section 4(1)(m) of the Financial Services Authority Act, 2013 (“FSA Act”), that the Securities Dealer Licence of AMALGA SECURITIES LTD and that of the Securities Dealer Representative Licence of Mr. Craig Johnson have been surrendered as per the requirements of Section 30(1) of the FSA Act, effective October 24th, 2024.

Unauthorised Activity: Bitunix

The Financial Services Authority of Seychelles (“FSA”/ “Authority”) is issuing a notice to investors, licensees and members of the general public as to the website https://www.bitunix.com/about-us which is claiming to be a digital asset exchange licenced by the Seychelles FSA.

Please be advised that Bitunix does not hold a valid license nor is it regulated by the FSA in any capacity; furthermore please take note that the website is not linked to any entity licensed and/ or regulated by the FSA in any capacity.

Please be advised that predating the 1st September 2024, the Seychelles had yet to pass the Virtual Asset Service Providers Act, 2024 (“the Act”) meaning that any virtual asset services and/or activity conducted before the passing of the Act  was unregulated. Following the enactment of the aforementioned Act, all entities wishing to offer Virtual Asset Services in or from the Seychelles must now apply for a licence.

Entities presently operating prior to the Act coming into force have until the 31st December 2024 to submit a complete application in order to continue its operations. Nonetheless, entities may not hold themselves out as having received a licence by virtue of submitting a completed application.

The Authority urges investors and members of the general public to conduct adequate research on an entity, service provider(s), and representative prior to engaging in any business activities and/ or performing any transactions involving money exchanges or exchanges of personal details.

The FSA reminds the public that the Authority shall not be liable should persons continue to engage or maintain client relationship, or make use of services provided with or by the aforementioned website.

20 September 2024

Alert: Unauthorized use of websites (the “unlawful website”)

This notice is issued by the Financial Services Authority of Seychelles (“FSA”) drawing attention to the website https://trustcapitalpl.com/ and the fact that the website is not linked to any entity licensed or regulated by the FSA in any capacity.

Furthermore, the FSA Seychelles urges investors and members of the public to exercise adequate research and evaluation on an entity, service providers, and representatives prior to conducting business and/or performing any transactions involving money exchanges or exchanges of personal details. The FSA also reminds the public that the Authority is not responsible should persons continue or maintain client relationship, or uses services provided with or by the aforementioned website.

Alert: Unauthorized use of websites (the “unlawful website”)

This notice is issued by the Financial Services Authority of Seychelles (“FSA”) drawing attention to the website https://quomarkets.com/ and the fact that the website is not linked to any entity licensed or regulated by the FSA in any capacity.

Furthermore, the FSA Seychelles urges investors and members of the public to exercise adequate research and evaluation on an entity, service providers, and representatives prior to conducting business and/or performing any transactions involving money exchanges or exchanges of personal details. The FSA also reminds the public that the Authority is not responsible should persons continue or maintain client relationship, or uses services provided with or by the aforementioned website.

Scam Alert: First Ally Trade - Fraudulent company (the “fraudulent company”) and Unauthorized use of website (the “unlawful websites”)

The Financial Services Authority of Seychelles (“FSA”) is issuing a notice to its investors, licensees and members of the general public to the website https://firstallytrade.com/ . The Authority takes note that the website refers to a company named "First Ally Trade" claiming that it is authorized and regulated by the Seychelles Financial Services Authority with Securities Dealer's license number SD018.

Please be advised that as per the Authority’s records, First Ally Trade is not known, does not hold a valid license nor is it regulated by the FSA in any capacity and the website is not linked to any entity licensed and/or regulated by the FSA in any capacity. 

The Authority urges investors and members of the general public to conduct adequate research on an entity, service provider(s), and representative prior to engaging in any business activities and/or performing any transactions involving money exchanges or exchanges of personal details. The FSA reminds the public that the Authority shall not be liable should persons continue to engage or maintain client relationship, or make use of services provided with or by the aforementioned website.

Scam Alert - XTrade+ (13574840) and SD212

This notice is issued by the Financial Services Authority ("FSA") pursuant to section 4(1)(m) of the Financial Services Authority Act, 2003 in relation to the trading platform, XTrade+. 

It has been brought to the FSA’s attention that the online trading platform XTrade+ (https://xtradeplus.com/) is claiming to be under the regulatory purview of the FSA. The public is hereby informed that XTrade+ does not hold any licences issued by the FSA to undertake such types of activities. Therefore, the entity is not being regulated by the FSA nor has it been in the past.

The FSA strongly urges investors and members of the public to exercise caution in respect to the services offered by XTrade+.

The Financial Services Authority

21 August 2024

Scam Alert: Grand Capital Ltd - Fraudulent company (the “fraudulent company”) and Unauthorized use of website (the “unlawful websites”) 

The Financial Services Authority of Seychelles (“FSA”) is issuing a notice to its investors, licensees and members of the general public to the website https://grandcapital.net. The Authority takes note that the website refers to a company named Grand Capital Ltd claiming that it is an international brokerage providing services for trading and investment in currency and derivatives, with its registered office at Suite 102 Aarti Chambers, Mont Fleuri, Victoria, Mahe, Seychelles and business address at No. 6, 1st Floor, Reliance Complex Building at Providence, Mahe, Seychelles.

Please be advised that as per the Authority’s records, the Grand Capital Limited does not and at no point in time has been authorised in line with sections 46 (1) and (2) of the Securities Act, 2007 by the FSA to carry on business in Seychelles dealing in Securities in accordance with section 45(4) of the Securities Act, 2007.

  The Authority urges investors and members of the general public to conduct adequate research on an entity, service provider(s), and representative prior to engaging in any business activities and/or performing any transactions involving money exchanges or exchanges of personal details. The FSA reminds the public that the Authority shall not be liable should persons continue to engage or maintain client relationship, or make use of services provided with or by the aforementioned website.  

Scam Alert: Grand Capital Ltd - Fraudulent company (the “fraudulent company”) and Unauthorized use of website (the “unlawful websites”)

The Financial Services Authority of Seychelles (“FSA”) is issuing a notice to its investors, licensees and members of the general public to the website https://grandcapital.net. The Authority takes note that the website refers to a company named Grand Capital Ltd claiming that it is an international brokerage providing services for trading and investment in currency and derivatives, with its registered office at Suite 102 Aarti Chambers, Mont Fleuri, Victoria, Mahe, Seychelles and business address at No. 6, 1st Floor, Reliance Complex Building at Providence, Mahe, Seychelles.

Please be advised that as per the Authority’s records, the Grand Capital Limited does not and at no point in time has been authorised in line with sections 46 (1) and (2) of the Securities Act, 2007 by the FSA to carry on business in Seychelles dealing in Securities in accordance with section 45(4) of the Securities Act, 2007.

  The Authority urges investors and members of the general public to conduct adequate research on an entity, service provider(s), and representative prior to engaging in any business activities and/or performing any transactions involving money exchanges or exchanges of personal details. The FSA reminds the public that the Authority shall not be liable should persons continue to engage or maintain client relationship, or make use of services provided with or by the aforementioned website.

Scam Alert: COF GLOBOL - Fraudulent company (the “fraudulent company”) and Unauthorized use of website (the “unlawful websites”)

The Financial Services Authority of Seychelles (“FSA”) is issuing a notice to its investors, licensees and members of the general public to the website "www.cofglobol.com". The Authority takes note that the website refers to a company named COF GLOBOL and/or COF claiming to be authorized and regulated by the Seychelles Financial Services Authority. Please be advised that the entity is not known, does not hold a valid license nor is it regulated by the FSA in any capacity and the website is not linked to any entity licensed or regulated by the FSA in any capacity. 

The Authority urges investors and members of the general public to conduct adequate research on an entity, service provider(s), and representative prior to engaging in any business activities and/or performing any transactions involving money exchanges or exchanges of personal details. The FSA reminds the public that the Authority shall not be liable should persons continue to engage or maintain client relationship or make use of services provided with or by the aforementioned website. 

Scam Alert: PRO MARKET GROUP 24 LTD - Fraudulent company (the “fraudulent company”) and Unauthorized use of website (the “unlawful websites”)

The Financial Services Authority of Seychelles (“FSA”) is issuing a notice to its investors, licensees and members of the general public to the website "Prooption24.com". The Authority takes note that the website refers to a company named PRO MARKET GROUP 24 LTD claiming to be authorized and regulated by the Seychelles Financial Services Authority under license number SD034. Please be advised that the entity is not known, does not hold a valid license nor is it regulated by the FSA in any capacity and the website is not linked to any entity licensed or regulated by the FSA in any capacity. 

The Authority urges investors and members of the general public to conduct adequate research on an entity, service provider(s), and representative prior to engaging in any business activities and/or performing any transactions involving money exchanges or exchanges of personal details. The FSA reminds the public that the Authority shall not be liable should persons continue to engage or maintain client relationship or make use of services provided with or by the aforementioned website. 

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