TriumphFX has acquired a securities fraud alert from the Australian Securities and Investments Fee (ASIC).
ASIC added TriumphFX to its “investor alert listing” on November twenty second, 2023.
Entities positioned on ASIC’s listing are “prone to offer monetary companies to Australian shoppers”, whereas “not maintain(ing) an Australian monetary companies licence or Australian credit score licence from ASIC”.
Beneath Australian legislation, providing securities with out being registered with ASIC constitutes securities fraud.
Virtually all suppliers of monetary companies in Australia should be licensed by ASIC.
With respect to entities positioned on the Investor Alert Record, ASIC warns;
If somebody contacts you to supply an funding alternative, otherwise you discover a suspicious web site, be cautious. It may very well be a rip-off.
This investor alert listing can assist you realize which corporations, companies and web sites (or ‘entities’) are to not be trusted.
TriumphFX is a long-running Ponzi scheme that primarily targets Malaysia.
BehindMLM first got here throughout TriumphFX again in 2017. Since then we’ve reported on TriumphFX
The present standing of TriumphFX is a bit murky.
In 2018 Singapore-based scammer Hermes Leong (proper) was arrested on prices associated to Triumph World, an earlier iteration of TriumphFX.
Then in October 2022, TriumphFX collapsed following non-payment of withdrawals for weeks.
Regardless of these two vital occasions, TriumphFX persists. SimilarWeb tracked ~153,000 visits to TriumphFX’s “tfxi.com” area in October 2023.
55% of that visitors originated from Malaysia, 19% from Taiwan, 8% from Australia and 4% from China.