The Malta Financial Services Authority (MFSA) has become aware of two entities making unfounded claims to be MFSA-licensed or approved. 

Emirate Coin Tech (https://emiratecointech.com) purports to be an MFSA licensed investment and crypto exchange institution with a physical presence at 1000 Mahler Building (floor 4), Gustav Mahlerlaan 1025, 1082, Amsterdam, The Netherlands.

The entity claims to be a “fast-growing investment and brokerage company, founded in 2013, to transform the way people invest".

The entity also states that “it focuses on trading and mining cryptocurrencies on contract for investors, and ensuring the highest possible return on investment within manageable risk”.

The MFSA confirmed that Emirate Coin Tech is not a Maltese-registered company and is not licensed or otherwise authorised by the MFSA to provide any investment, crypto currency or other financial services.

"Furthermore, information available to the MFSA suggests that https://emiratecointech.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," it said.

A similar warning was issued about Fnamix Finances (https://fnamixsarlservc.com/), which is also falsely claiming to be linked with a foreign licensed and authorised entity. Fnamix Finances, which claims to have its head office in France, was found to be advertising its unauthorised loan services activity on popular social media which is targeting the Maltese public.

The provision of such loan services would require prior authorisation by the MFSA.

A list of entities licensed by the MFSA can be viewed on the official website of the MFSA at http://www.mfsa.mt/pages/licenceholders.aspx.