Slovene Securities Market Agency Issues Warning against Worth Ltd

The Slovene Securities Market Agency has issued a warning to investors about the activities of Worth Ltd, which is operating through the site name VenetFX, having failed to obtain proper authorization as dictated by the Market in Financial Instruments Act (MiFiD).

The Financial Conduct Authority (FCA) has previously warned against clones such as Worth Ltd, also known as Worth Financial Services and operating through VenetFX, a Clone Clone A clone refers to a fraudulent attempt by an entity or individual to use the details of an authorized firm in a bid to convince people that they work that firm.This refers to a relatively new tactic that has seen fraudsters using the name, ‘firm registration number’, and address of firms and individuals authorized by regulators to suggest they are genuine. Clones are seemingly primitive techniques, though newly adopted by scammers that have evolved in the information era. As regulators push for A clone refers to a fraudulent attempt by an entity or individual to use the details of an authorized firm in a bid to convince people that they work that firm.This refers to a relatively new tactic that has seen fraudsters using the name, ‘firm registration number’, and address of firms and individuals authorized by regulators to suggest they are genuine. Clones are seemingly primitive techniques, though newly adopted by scammers that have evolved in the information era. As regulators push for Read this Term of a previously FCA registered firm. According to a regulatory manifest by the Slovene Securities Market Agency, no documentation has thus far been provided for the necessary authorization and for this reason has prompted attention by the country’s regulatory authorities.

Worth Ltd is currently using an FCA registration number that once belonged to a legitimate representative Worth.IT Financial Services Ltd, which was previously the FCA registration number and dissipated back in 2004 – furthermore the current entity Worth Ltd is unrelated to the former regulated entity.