MFSA issues warnings against 3 entities

MFSA

Tista' taqra bil- Malti.

The Malta Financial Services Authority has recently issued warnings concerning three entities purporting to offer financial services in Malta, emphasising that they had no licence to do so.

One of the entities is a clone company which operates the website cardinalholdingsltd.com and which uses the details of Cardinal Holdings Limited, a Malta-registered holding company which is itself not authorised to offer financial services. Consequently, the MFSA warned that fraudsters were using the details of the genuine company to deceive the public.

The other two warnings concern two companies – Expertzoption and FxTrade Gains – which are falsely claiming to hold a category 3 investment licence issued by the MFSA. The two companies have an internet presence on expertzoption.com and fxtradegains.com respectively.

In both cases, the MFSA warned that they were “likely to be a scheme of dubious nature with a high risk of loss of money.”