FMA is one of the most active regulators in the financial markets.
Despite the high level of warnings, the number of scams in NZ is reportedly decreasing.
New
Zealand's market regulator has just added five new entities to its list. They
offer investment services for retail traders, asset management, or term
deposits, and some have been classified as clones of fully operational
institutions.
New Zealand's FMA Adds 5
New Firms to Warning List
Within the
last 24 hours, the Financial Market Authority (FMA) of New Zealand updated its
warnings and alerts list five times. The list now includes Ocean Trade, Cato
Asset Management, Bronte FX, Co-operative Bank, and Bank of China.
Ocean Trade
operates under twelve different web addresses, using the officially registered
data of Mercado Limited (registration number 7353856). Mercado's director
confirmed to the FMA that his entity has nothing to do with Ocean Trade.
“ocean-trade.org;
perfectglobaltrade.org; livetradeinvestment.com; cryptoprofitrade.com;
coinminetinvest.com; cryptoprofitrade.com; cnkglobalinvestment.com;
stakefunds.org; episodegrab.org; upliftfxinvest.net; coinfinancefxtrading.com;
realearners.net; coinfinancefxtrading.com,” the FMA listed the websites
associated with Ocean Trade, warning the public to be cautious.
Another
fraudulent company, Cato Asset Management, as the name suggests, offers asset
management services. With Bronte FX, which allows trading in CFDs, the
regulator has classified it as an “imposter website.” Besides using the
licensing data of other entities, dishonest companies also try to copy the look
of their websites to confuse consumers. In the case of Bronte, the FMA received
information that clients were having trouble withdrawing their funds.
The last
two warnings concern the Co-operative Bank and Bank of China offering
"fake term deposits.” Scammers offer term deposits with unusually high interest
rates or returns to entice investors. However, the rates are often unrealistic
and too good to be true.
“Scammers
are sending out highly professional-looking product disclosure statements
featuring Bank of China’s name, logo, address, and registration details,” the
FMA commented on the warning against the fake Bank of China.
Number of Scams in New
Zealand Decreases
However,
there has been an increase in websites impersonating registered entities in New
Zealand, and the number of potential financial scams and activities of unlicensed
businesses has significantly decreased since mid-2022.
The FMA's
recent report for 2023 highlights this trend, showing a decrease in warnings
and alerts compared to the previous year, with 47 instances of suspected scams,
a significant drop from the 105 cases reported in 2022.
However,
the FMA has recognized a new trend in deceptive practices, adding a “imposter
websites” category to its report. This category reflects the growing number of
fraudulent actors and companies imitating licensed firms. Despite the FMA
issuing 29 warnings in this new category, the total number of alerts in 2023
was 89, down from 111 in 2022, indicating a general decline in such fraudulent
activities.
New
Zealand's market regulator has just added five new entities to its list. They
offer investment services for retail traders, asset management, or term
deposits, and some have been classified as clones of fully operational
institutions.
New Zealand's FMA Adds 5
New Firms to Warning List
Within the
last 24 hours, the Financial Market Authority (FMA) of New Zealand updated its
warnings and alerts list five times. The list now includes Ocean Trade, Cato
Asset Management, Bronte FX, Co-operative Bank, and Bank of China.
Ocean Trade
operates under twelve different web addresses, using the officially registered
data of Mercado Limited (registration number 7353856). Mercado's director
confirmed to the FMA that his entity has nothing to do with Ocean Trade.
“ocean-trade.org;
perfectglobaltrade.org; livetradeinvestment.com; cryptoprofitrade.com;
coinminetinvest.com; cryptoprofitrade.com; cnkglobalinvestment.com;
stakefunds.org; episodegrab.org; upliftfxinvest.net; coinfinancefxtrading.com;
realearners.net; coinfinancefxtrading.com,” the FMA listed the websites
associated with Ocean Trade, warning the public to be cautious.
Another
fraudulent company, Cato Asset Management, as the name suggests, offers asset
management services. With Bronte FX, which allows trading in CFDs, the
regulator has classified it as an “imposter website.” Besides using the
licensing data of other entities, dishonest companies also try to copy the look
of their websites to confuse consumers. In the case of Bronte, the FMA received
information that clients were having trouble withdrawing their funds.
The last
two warnings concern the Co-operative Bank and Bank of China offering
"fake term deposits.” Scammers offer term deposits with unusually high interest
rates or returns to entice investors. However, the rates are often unrealistic
and too good to be true.
“Scammers
are sending out highly professional-looking product disclosure statements
featuring Bank of China’s name, logo, address, and registration details,” the
FMA commented on the warning against the fake Bank of China.
Number of Scams in New
Zealand Decreases
However,
there has been an increase in websites impersonating registered entities in New
Zealand, and the number of potential financial scams and activities of unlicensed
businesses has significantly decreased since mid-2022.
The FMA's
recent report for 2023 highlights this trend, showing a decrease in warnings
and alerts compared to the previous year, with 47 instances of suspected scams,
a significant drop from the 105 cases reported in 2022.
However,
the FMA has recognized a new trend in deceptive practices, adding a “imposter
websites” category to its report. This category reflects the growing number of
fraudulent actors and companies imitating licensed firms. Despite the FMA
issuing 29 warnings in this new category, the total number of alerts in 2023
was 89, down from 111 in 2022, indicating a general decline in such fraudulent
activities.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Financial Commission Drops DeltaFX from Membership over “Rule Violations”
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24