KNF warns of 6 Forex/Crypto scams

On January 24, 2023 Polish Financial Supervision Authority added 6 new scams to the warning list. These are: JDP Group LLC, Incendiary Group LTD / Cynosure Consulting Ltd, Brikanta Limited Ltd, Maxbit LLC, www.allfinagroup.pro and Finero Corp. Limited. Each of the listed entities illegally provides brokerage services in trading on the CFD instruments market, and therefore a notification was submitted to the prosecutor's office about committing a crime. Details below.

Watch out for more FX & crypto scams!

In the case of all entities, the reason for inclusion on the list is the same - they do not have the required licenses and permits to conduct brokerage activities in Poland (and the European Union). Blindly, it can be considered that we are talking about activities that aim to extort funds from unaware investors. Some websites are no longer available online, but remember that scammers use many websites and regularly "return to the market" with new brands to lure unsuspecting investors. It is worth remembering the following names - often scammers, when creating new brands, do not make an excessive effort and only slightly modify the names, addresses of websites or their appearance.

The companies use the following websites:

• Incendiary Group LTD, Cynosure Consulting Ltd – operating at the following addresses: www.primecapital.pro, www.meteortrade.co, www.meteortrade.pro, www.majortrade.pro, www.majortrade.co, www.majortrade.world, www.trade-union.pro and www .influxfinance.pro
• Brikanta Limited Ltd – operating via the website www.fxinvestbank.com
• Maxbit LLC based in Saint Vincent and the Grenadines - operating via the Quotex online platform
• Activities conducted at the address - www.allfinagroup.pro
• Finero Corp. Limited based in Great Britain - operating via the Finero trading platform operating at the addresses www.finero.co.uk and www.finero.co.uk/?lang=pl
• JDP Group LLC – operating through the sureinvest.org investment platform

Be vigilant - scammers often return with only slightly modified names or websites.

We warn against using the services of unlicensed companies. Before opening an account, always make sure it is correct the broker has the appropriate regulations and permits at the indicated financial market supervisory institution.