The Malta Independent 22 January 2021, Friday

MFSA issues warning on clone website

Friday, 4 December 2020, 11:35 Last update: about 3 months ago

The Malta Financial Services Authority (MFSA) has become aware of an entity operating under the name of Advent Trading Limited, which has an internet presence at https://adventtradingltd.com/ however, the website is currently offline.

"This website is using the details of a Maltese Registered Company, Advent Trading Limited (C 49576), which does not offer financial services. Fraudsters are using the details of this genuine company in an effort to deceive the public."

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"The MFSA wishes to alert the public, in Malta and abroad, that https://adventtradingltd.com/ is not a Maltese registered Company nor licensed or otherwise authorised by the MFSA to provide any investment services or any other financial services which are required to be licensed or otherwise authorised under Maltese law. Additionally, the Authority confirms that https://adventtradingltd.com/ has no association with the Maltese registered company Advent Trading Limited (C 49576)."

"The website https://adventtradingltd.com/ therefore appears to be a clone of the legitimate entity and the public should therefore refrain from undertaking any business or transaction with the false entity."

Furthermore, information available to the MFSA suggests that https://adventtradingltd.com/ is likely to be a scheme of dubious nature with a high risk of loss of money. The public should therefore refrain from undertaking any business or transactions with the above-mentioned entity, the MFSA said.

The MFSA would like to remind 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 at https://www.mfsa.mt/financial-services-register/.

For more information on clone companies please refer to the Scam Detection Guidelines issued by the MFSA at https://www.mfsa.mt/consumers/scams-warnings/typical-scams/. 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, first of all stop all transactions with the company and contact the MFSA at https://www.mfsa.mt/about-us/contact/ as soon as a suspicion arises.


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