FXCRYPTOTRADERX (the scam entity)

Financial Services (Jersey) Law 1998 (FS(J)L)

Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008 (Supervisory Bodies Law)

The JFSC issues this public statement under Articles 25(d) of the FS(J)L and 26(c) of the Supervisory Bodies Law.

This statement is to warn members of the public against dealing with unauthorised financial service providers. The scam entity has not received authorisation to conduct investment business or specified Schedule 2 business (virtual currency exchange) within the meaning of the FS(J)L and Supervisory Bodies Law.

From documentation held by the JFSC, the scam entity, via the website and email addresses, is carrying on, or holding out that it is carrying on, investment business and specified Schedule 2 business in Jersey when it is not authorised by, or registered with, the JFSC to do so.

The JFSC confirms the following:

1. The scam entity has never been registered, nor applied for registration, under the FS(J)L or Supervisory Bodies Law. Therefore any investment business[1] or specified Schedule 2 business (virtual currency exchange[2]) carried on by the scam entity, is in breach of Articles 7 of the FS(J)L and 10 of the Supervisory Bodies Law.
2. From documentation held by the JFSC, the scam entity, website and email address all display warning signs of being set up for a fraudulent purpose.

Any person who has had dealings with the scam entity is requested to contact the JFSC’s Enforcement team.

All regulated or supervised businesses in Jersey are listed on our website.

For further enquiries, please contact the JFSC’s Enforcement team.

 

[1] Defined in Article 2 of the FS(J)L

[2] Defined in Schedule 2 of the Proceeds of Crime (Jersey) Law 1999