Two Maltese companies have become victims of fraudsters who have been using their details and website contents in clone companies.

The Malta Financial Services Authority warned on Wednesday that Finco Trades was using the details and website contents of the licensed company Finco Trust Services Limited “to deceive the public”.

Finco Trades is “not a Maltese registered company nor is it authorised to provide any financial services in or from Malta,” the MFSA said, adding that it has no association with Finco Trust Services Limited.

Finco Trades’s website “appears to be a clone” of Finco Trust’s genuine website.

Alchemy Markets Ltd has also fallen victim to fraudsters where its details and website contents have been cloned by five companies operating as Secure Octabit Ltd, AceStock System, Imperial Capitals, Fxswiftrade, and LibertyOptionMarket.

None of these five companies have any association with Alchemy Markets Ltd. They are not registered in Malta nor are they authorised to provide any financial services in or from Malta, the MFSA said.

In a further statement, the Authority also warned the company Cyberbyte.live was “likely to be a scheme of dubious nature with a high risk of loss of money.” The company was neither registered in Malta nor licensed by the MFSA to provide any investment or other financial services. It urged the public to “refrain” from engaging in any transaction with this company.

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