Red Compliance | FinTelegram News

March 22, 2023

Crypto Investment Scheme OASIS Assets Received Orange Compliance Rating!

OASIS Assets is a crypto exchange and investment scheme offering investors various plans for guaranteed returns. For a 120-day investment of GBP 250,000, 45% is promised. The scheme is operated through legal entities in the UK, Australia, Singapore, and Switzerland. The scheme does not appear to have a license to offer financial products. There is no scam alert on OASIS Assets, but we have given the scheme a Red Compliance rating. Be cautious accordingly.

March 14, 2023

CySEC Issue: Spanish CNMV Follows FinTelegram And Warns Against OctaFX Offshore Scheme!

In February 2022, we published our initial review of the OctaFX broker scheme. CySEC regulates Octa Markets Cyprus Ltd with license number 372/18. Like many other CySEC-regulated brokers, OctaFX runs an offshore scheme via Octa Markets Incorporated, registered in St. Vincent & The Grenadines. The offshore scheme deploys different domains to solicit clients in EEA and other regulatory regimes. The Spanish CNMV warned against this OctaFX offshore broker scheme.

March 9, 2023

Red Compliance: Be Careful With The Israeli Fund Recovery Scheme Ellis and Burlington!

Anyone searching on Google for terms such as cybercrime, scams, or action fraud will receive an advertisement for the Ellis and Burlington fund recovery scheme, among others. A woman and a man are shown on the website as the founders. Details about the founders or individuals related to the company are searched for in vain. This looks very fishy. We recommend scam victims to be very careful with Ellis and Burlington and assign a "Red Compliance" rating.

March 6, 2023

Offshore Broker Capital Street FX With Red Compliance Rating!

Capital Street FX is an offshore broker operated via Capital Street Intermarkets Limited in Mauritius and UK-registered Minus Zero Technologies Limited. The broker is controlled by Indian nationals and has an office in Dubai. While clients seem to be happy and provide good reviews, Capital Street FX does not have authorization for its most important markets in North America or EEA. Consequently, we have assigned a red compliance rating.

March 2, 2023

Red Compliance Rating For Unauthorized Offshore Broker LQDFX

Offshore broker LQDFX has been on our radar for about two years now. The scheme was founded by the well-known fintech entrepreneur Ozan Ozerk a/k/a Ozan Özerk, who founded several regulated ventures, including OpenPayd or EuroTrader. The UK FCA recently warned against the offshore broker LQDFX, which operates without regulatory permission in the United States, EEA, and UAE. We have added the broker to our Red Compliance list.

February 20, 2023

Update: ‘Gen-Z of Broker’ Opofinance And Its Compliance Rating!

In October 2022, we issued a warning against the offshore brokerage scheme Opofinance, operated by offshore entities in the Seychelles and St. Vincent & The Grenadines. Opofinance operates under a securities dealer license from the FSA Seychelles in most regulatory regimes worldwide without a license. In doing so, Opofinance also violates regulatory requirements and falsely claims that membership with the Financial Commission will protect investor funds. Compliance rating: Red!