The Polish Financial Supervision Authority includes AM-Szmaragd and Colorfull Management Ltd on the warning list

On January 4, 2024 Polish Financial Supervision Authority announced the addition of two illegally operating investment platforms to the list of public warnings - Agencja Maklerska Szmaragd (AM-Szmaragd) and Colorfull Management Ltd. Details below.

Watch out for AM-Szmaragd and Colorfull Management

The KNF's public warning list is a collection of entities that violate Polish law regarding banking and investment activities. As a rule, these are ordinary fraudsters who operate illegally, without appropriate consents and licenses, and their only goal is to extort funds from unaware investors. These are also companies that have violated the provisions of Polish law in terms of their activities, e.g. in terms of advertising, information contained on the website and more.

This time, the 2 previously mentioned entities were added to the list. While Colorfull Management is difficult to locate, in the case of AM-Szmaragd, the website address was provided and remains active. The website itself is available in Polish, but the quality of its translation leaves much to be desired (e.g. “Your investment will work while you rest.”). This already suggests to us that we are dealing with a fraud, and one that is not behind Poles. The website itself is not rich in content, but there is information on it investment starts from 25 thousand USD, and we can receive an additional bonus for the deposit made - these are further red flags. Compared to previous scams that we reported on Forex Club, this one is unique in that it is strictly addressed to Polish citizens. This is indicated by the company name, logo and language version of the website (no other languages, including English). The Swiss company registration address provided is probably only to increase its questionable credibility.

The KNF warns against:

• Colorfull Management Ltd based in the British Virgin Islands
• Investment platform using the address www.am-szmaragd.com (trade name: "Agencja Maklerska Szmaragd", "AM-Szmaragd" or "AMS")

Stay alert!

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.