The financial regulator of Hong Kong, the Securities and Futures Commission (SFC), has updated its alert list with the addition of IBG Capital Partners as an ‘unlicensed entity’. The entity is believed to be offering financial solutions to investors in Hong Kong without the proper regulatory approvals.
The website (ibgcapitalpartners.com) of the entity offers different risk and investment-related solutions for different sectors and claims offices in Hong Kong, China, Taiwan and Tokyo. On further investigation by the SFC, the Hong Kong address listed on the website was found to be fictitious.
For financial transactions and settlements, the company uses a Hong Kong bank account under the name Carvani (Hong Kong) Group Co. Limited. Unlicensed entities often use dubious means to scam investors.
Market regulators around the world are updating their lists of companies involved in investor scams, clones of legitimate companies and other such similar crimes, in an effort to build a strong investor protection mechanism.
Awareness and strict regulation has become a feature of almost all jurisdictions over the past couple of years, helping to tighten regulatory mechanisms around the world in a bid to protect gullible investors and traders.