Operating Without Authorization and Marked by Regulatory Entities
The official website of this organization is notably deficient in providing essential details, such as the location of its registration. However, the sole use of Spanish on the site somewhat limited the scope of our investigation.
Our inquiry began with the discovery of an official warning from the CNMV. Shortly thereafter, it became evident that several other regulatory bodies had issued similar alerts to inform the public about this fraudulent activity. These include the AFM, FI, FSMA, and MNB.
Attempts to find records in databases of regulators from Spanish-speaking countries, such as CNBV, BCRA, SFC, and CMF, were fruitless, indicating no trace of this company’s existence. Therefore, it’s apparent that this entity is operating illicitly without any legal authorization.
Engaging with non-regulated firms like this, or similar entities such as GSPartners Global, leads to the loss of various financial protections mandated by law. These protections include safeguards against negative account balances, the segregation of bank accounts, limits on leverage, and crucially, access to compensation funds.
Moreover, a significant concern is the tendency of such unauthorized companies to misappropriate client funds under the guise of trading activities.
Scheme Execution by an Anonymous Entity
This company maintains an air of anonymity, evidenced by its minimal online footprint, limited to a single website. Despite the presence of supposed links to social network profiles, these are non-functional.
The primary tactic employed by this firm involves the use of boiler room agents, a strategy not unlike that used by entities like Binetrix. These agents, posing as financial experts over the phone, persuade individuals to invest, funneling funds directly to the fraudsters. Recovering these funds typically requires professional assistance due to the complexity involved.
Covert Operations Revealed
A search in the WhoIs database reveals that the domain is listed as available for lease. Despite this, accessing tradingaureo.webnode.es still leads to the company’s website, indicating operation through a privately owned server.
The server’s location can potentially be traced, offering a possible avenue for recovering funds. Notably, the fraudulent activities of this entity appear to be primarily targeting regions such as Colombia, Spain, Ecuador, and Mexico.
Lack of Trading Infrastructure
For legitimate trading operations, the presence of a functional trading portal is essential. However, this fraudulent website lacks any such feature—there are no options for downloading trading software, nor is there a web-based trading terminal. This absence renders the service provider entirely ineffective.
The promotion of features like MetaTrader 4 emerges as merely a deceptive marketing strategy to lure more victims. This tactic further exemplifies the audaciousness of these cyber criminals in expanding their fraudulent operations.
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