MFSA issues warnings about fraudsters cloning genuine Maltese companies

The Malta Financial Services Authority has issued warnings about a number of websites using the details of real licensed companies based in Malta or being completely unauthorised.  

Websites https://pc.triveorvip.cc/ and https://m.triveltd.top are using the details of an MFSA-licenced company Trive Financial Services Europe Ltd, with fraudsters appropriating the details and website contents of this genuine company “in an effort to deceive the public”.

“The Authority would like to inform the public that https://pc.triveorvip.cc/ and https://m.triveltd.top are neither Maltese registered Companies NOR are they authorised to provide any financial services in or from Malta. Additionally, these sites have no association with Trive Financial Services Europe Ltd,” a statement read.

The websites https://pc.triveorvip.cc/ and https://m.triveltd.top therefore appear to be a clone of the website of the legitimate entity in Ta’ Xbiex and the public should therefore refrain from entering into any transactions or otherwise dealing with the false entity.

The MFSA also warned about an entity operating under the name of OptimizerTrade Limited which purports to be a trading and investment firm with an internet presence at https://optimizertrade.com. 

“The entity makes unauthorised use of a similar name and registered address of a Maltese-registered company and claims to be a legal company registered in Malta providing its investment services to the members all around the world’”.

“OptimizerTrade Limited is niether a Maltese registered Company NOR licensed or otherwise authorised by the MFSA to provide any investment services or other financial services which are required to be licenced or otherwise authorised under Maltese law,” a separate statement warned.  

The public should therefore refrain from entering into any transactions or otherwise dealing with the above-mentioned entity on any matters falling within the parameters of the Investment Services Act, Chapter 370 of the Laws of Malta and the Virtual Financial Assets Act, Chapter 590 of the Laws of Malta.

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.

For more information on financial scams please refer to the MFSA scam awareness document to keep yourself informed on red flags which help consumers of financial services to identify such financial 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 as soon as a suspicion arises.