MFSA is warning the public about a bogus entity called KONTOFX that could cost them their money.
According to the Malta Financial Services Authority, KONTOFX is scam pretending to be a forex trading broker, which offers customers a way to trade online.
MFSA says that it does not licence or authorize the company to trade in investments under Maltese law.
They are strongly advising, ‘investors and consumers of financial services that prior to making any investment or entering into any financial services transaction, they should ascertain that the entity with whom the investment or transaction is being made is authorised to provide such services by the MFSA or other financial services regulatory authorities as applicable.’
In addition, the MFSA provides a list of all the authorized entities which are licenced and authorized by them.