WorldMarkets is a huge investment scam that has been active for years. We have reported about it several times. Financial market regulators like the UK FCA have issued warnings against the WorldMarkets scheme. However, the fact is that WorldMarkets is still active. In doing so, the scam works with a wide variety of ever-changing payment processors. Bank accounts of random companies are used to receive payments from victims. Most recently, victims have reported to us that they have transferred payments to the bank account of the Polish public relations company Wolfs Trading Blockchain Technology S.A.
WorldMarkets are finding payment processors difficult to find anymore. Therefore, they increasingly use accounts of companies that make themselves available as illegal payment processors. In doing so, victims are asked not to make any reference to WorldMarkets in the payment reference. In the case of Wolfs Trading Blockchain Technology, victims made bank wires to the bank account of BNP Paribas Bank Polska with IBAN PL81160014621894837350000002.
In the past, we have already discovered several companies that supported the WorldMarkets scam:
- the Italian Exodus Europe SRL,
- the Dutch JeDo Advies & Beheer,
- the Polish Kantor Net sp,
- La Paviora Limited in the UK,
- the TEC Bauservice und Handels GmbH in Germany, and
- the German FAD Berlin Consult UG against which the German BaFIN has issued a cease-and-desist order.
The WorldMarkets scheme also used the regulated Lithuanian Simplex Payment Services UAB to process deposits from victims.
At least four regulators have issued and/or published warnings against the scheme.
- New Zealand FMA – here
- Italian CONSOB – here
- UK FCA – here
- Swiss FINMA – here
- British Columbia Securities Commission (BCSC) – here
- Finish FIN-FSA – here
On TrustPilot, one can find the warning that WorldMarkets has attracted the attention of regulators. In fact, we have alerted TrustPilot to this scam which has used TrustPilot to gain apparent respectability via fake reviews. Please read our report here.