Public Statement 2 of 2020 - ITBFX (2020-02-21)

Summary

This is a public fraud alert issued by the BVI Financial Services Commission warning that the website WWW.ITBFX.COM is falsely presenting itself as TRADING OPPORTUNITY MANAGEMENT COMPANY LTD., a genuine FSC-licensed investment business. The website is circulating a forged investment business licence (Licence No. SIBA/L/12/1027) and is not registered, licensed or regulated in the BVI.

• Nature of statement: Issued under Section 37A of the Financial Services Commission Act, 2001 to protect customers, creditors and persons solicited by the fraudulent entity.
• Key finding: WWW.ITBFX.COM is not affiliated with TRADING OPPORTUNITY MANAGEMENT COMPANY LTD. and has never been licensed to carry on investment business in or from the BVI.
• Public guidance: Members of the public are advised to exercise extreme caution if solicited by WWW.ITBFX.COM and are invited to report information on questionable entities to the FSC.

The statement does not impose any new compliance requirements on regulated entities; it is an informational warning aimed at protecting the public from a specific fraudulent operator.