The MFSA warned on Tuesday that an internet company is making unauthorised use of the company name TMS Brokers Europe Limited.

TMS Brokers Europe Limited surrendered its Category 3 Investment Services Licence on April 29.

But fraudsters are using the details of this genuine company in an effort to deceive the public.

The authority said that http://www.tmseuropechina.com/index.asp claimed to have a presence in Malta, which did not seem to be the case. It had absolutely no association with TMS Brokers Europe Limited.

The website appeared to be a clone of the website of the legitimate entity and the public should refrain from undertaking any business or transactions with the false entity.

The MFSA reminded consumers of financial services not to enter into any financial services transaction before ascertaining that the entity with whom the transaction was being made was authorised to provide such services by the MFSA or another reputable financial services regulator.

A list of entities licensed by the MFSA could be viewed on the authority’s official website here.

Scam victims or people who thought they might be dealing with an unauthorised entity or any other type of financial scam, should stop all transactions with the company and contact the MFSA here as soon as suspicion arises.

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