The Securities and Futures Commission (SFC), a monetary regulator in Hong Kong, has added a brand new entity which it has labeled as suspicious this Wednesday – Redsolarcapital.Com.
According to the warning from the regulator, Redsolarcapital.Com, which operates by way of the web site www.redsolarcapital.com, is a “suspicious web site” and has been categorized as so, on its warning listing.
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The purpose this web site has appeared on the company’s web site is due to its title, which is eerily much like one other agency, which is permitted to supply monetary providers in Hong Kong – Red Solar Capital Limited.
Because of this, it’s possible that Redsolarcapital.Com is definitely a clone agency, and has copied the title of a reliable agency with a view to trick traders into considering it’s related to SFC-licensed Red Solar Capital Limited.
Clone corporations, because the title suggests, are rip-off operations which copy or “clone” one other firm. They may do that by selecting to function with the same title, because it seems immediately’s entity has finished, or they could steal different info comparable to license and registration particulars with a monetary regulator, handle particulars, and different comparable info.
The essential purpose of the sport for fraudsters is to trick shoppers into believing they’re reliable. Whether which means they declare to be related to or a consultant of a reliable agency or present a false license or different particulars.
When it involves scams, shoppers needs to be very cautious of any unsolicited contact. That is when an organization reaches out to you when you’ve gotten given them no indication that you’re all for doing enterprise with them. This is likely one of the commonest techniques of scammers.
Traditionally, this was once finished by way of phone, known as cold-calling. However, with the rise of expertise and social media being current in lots of households, fraudsters at the moment are capable of contact potential victims by way of a number of platforms, so shoppers must be alert.
Taking a have a look at Redsolarcapital.Com’s web site, the corporate claims to supply monetary providers, wealth administration, and property planning. In phrases of economic providers, the entity gives world equities, commodities, overseas change (foreign exchange) and extra as methods to generate income for its shoppers, the web site states.
However, when contemplating the truth that the SFC has flagged this web site as suspicious, it’s best to err on the aspect of warning and keep away from coping with this agency and particularly, keep away from transferring them any cash.