Public Statement 10 of 2021 - BINACRYPTOGAIN24 (2021-03-25)

Summary

This is a public warning notice issued by the BVI Financial Services Commission (FSC) on 25 March 2021 identifying an entity calling itself BINACRYPTOGAIN24. The FSC states this entity is circulating a forged investment business licence and falsely claiming to be authorised and regulated by the FSC to carry on investment business by dealing in investments.

• Warning issued: BINACRYPTOGAIN24 has never been licensed or regulated by the FSC to carry on any type of financial services business, including investment business, in or from the BVI.
• Basis for statement: Issued under Section 37A of the Financial Services Commission Act, 2001, to protect customers, creditors, or persons solicited by this entity.
• Public advice: Members of the public are urged to exercise extreme caution if solicited to do business with BINACRYPTOGAIN24 and to report any information about questionable entities or improper activities to the FSC.

This notice is purely informational and does not create any ongoing compliance obligations for regulated entities; it serves to alert the public and industry to an unauthorised and fraudulent entity.