The Malta Financial Services Authority (MFSA) said that it has become aware of an entity which is making unauthorised use and reference to the head office address of a Maltese registered company, TMS Brokers Europe Limited.
In a statement, the MFSA warned that TMS Brokers Europe Limited has voluntarily surrendered its Category 3 Investment Services Licence on 29 April 2019; and fraudsters under the name of TMS Europe China are using the details of this genuine company in an effort to deceive the public.
The MFSA confirmed that TMS Europe China has no association with TMS Brokers Europe Limited.
The website, therefore, appears to be a clone of the website of the legitimate entity and the public should refrain from undertaking any business or transactions with the false entity.
The MFSA has reminded consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator.
A list of entities licensed by the MFSA can be viewed on the official website of the MFSA.
If you are a victim of a scam or think you might be dealing with an unauthorised entity or any other type of financial scam, stop all transactions with the company and contact the MFSA as soon as suspicion arises.