Attention! Fraud company!
Leave a request for a refund from a scammer.
There are a lot of scammers operating on the market, ready to promise traders anything to get their money. Today we will talk about Group Finance Limited - a sharashka office, which, judging by the reviews, leaves its victims up to their ears in loans. What divorce scheme do scammers use? Let's find out!
Get instructions on how to withdraw funds
What is known about Group Finance Limited?
In order to ingratiate themselves with investors, many scammers come up with beautiful legends and make good websites. The hero of our review does not bother with this, realizing that, under a hail of negative reviews, he will soon have to stop his activities. The swindlers were too lazy to even invent the history of the development of the office, and the groupfinance.limited platform was done on the knee. A special service estimated it at 33 rubles.
Group Finance Limited positions itself as a global broker with many traders. Reviews about it appeared only at the end of 2021. Why did users start talking about cooperation with such a well-known agent recently? It's simple: the hero of our review is a new scam launched a little over two months ago. The check showed that the domain was registered on December 7, 2021. If scammers lie in such trifles, then you should not expect honesty from them in more serious moments.
At first glance, it seems that Group Finance Limited has no problems with registration. The site says that it is “registered” in the UK, and even the address of the headquarters is indicated. There is indeed an organization with that name in Companies House, but it has nothing to do with scammers. The column “type of activity” indicates “the work of insurance agents and brokers”, which is not related to financial intermediation.
The director of real Group Finance Limited, Lax Scholem, manages two more real estate companies, which means he has created a full-service agency where users can buy an apartment and insure it. Fraudsters simply found an organization with a suitable name and stole its data.
In the contacts section, there is a phone number and email, but you should not rejoice: you won’t be able to contact the scammers using them. We found out that instead of a real phone number, a random set of numbers is indicated. In the reviews, users write that scammers do not answer by e-mail, but contact them themselves from different numbers.
How are the permits?
The scammers claim that their work is controlled by the FCA, and without a twinge of conscience provide a link to a license stolen from the real Group Finance Limited. The phone number in the database of the British regulator does not match the one indicated by the scammers. In addition, the "kitchen" promises leverage up to 1:500, and the FCA does not issue permits to agents who increase it to more than 1:30. Scammers don’t smell like a license, which means that participation in the FSCS compensation fund is another fake.
Judging by the reviews on the Web, the vast majority of the victims of the pseudo-broker are Russian citizens. In our country, there is law No. 460-FZ, which prohibits financial intermediaries from working without a license from the Central Bank of the Russian Federation and joining an SRO. The domestic regulator is not yet aware of the existence of Group Finance Limited, otherwise the latter would have been on the list of fraudulent organizations long ago. There are companies with a similar name in the database, but they have nothing to do with the hero of our review.
What are the conditions for cooperation?
The swindlers are trying to lure more investors into their networks, so they set an entry threshold of $50. But they did not hesitate to raise the commission: from each profitable transaction, the user will have to pay 12%. Scammers promise their customers the following benefits:
- four types of accounts for traders with different financial capabilities;
- assistance of a personal manager and analyst (judging by the reviews, it is they who help investors drain the deposit);
- daily news and analytical materials;
- professional education.
We mentioned above that the leverage reaches 1:500. Fraudsters try to present this as an advantage, however, such leverage only indicates that there is no smell of trading on the platform, since not a single transaction is brought to the market.
What do they write about the scammer in the reviews?
There is not a single positive review about the fake office on the Web. All ex-clients complain that they have lost money from their account, and attempts to figure it out led to the fact that the fake broker blocked their accounts and stopped responding to calls and messages.
How do traders end up with empty pockets?
Swindlers use the "kitchen" divorce scheme. They are looking for new victims on thematic forums and offer to try making money with the “world's leading broker”. Although the minimum deposit is $50, Group Finance Limited is trying to persuade the trader to deposit at least $500. In the reviews, users write that professional psychologists work in the sharashka office. They manage to swindle the user by the required amount, with many of the victims claiming to have felt hypnotized.
Each user is assigned a personal analyst who advises where to invest money. There is no smell of real trading on the platform, so Group FInance Limited does not cost anything to “draw” a profit for the victim. When she tries to withdraw capital, the analyst will offer the “maximum profitable” deal, for which it will be possible to get a guaranteed profit. Users get into loans and carry the last money to scammers.
When making a transaction on the platform, a technical failure occurs, and the funds “burn out”. Further, the story develops according to the standard scenario: scammers accuse the trader of inattention and say that they cannot help in any way, or simply stop responding to his requests.
What rating does Group Finance Limited deserve?
Sharashkin's office does not deserve even one. She stole the data of another company, the work takes place without registration and license, and there is no smell of legal documents on the site. If you do not want to be up to your neck in loans, do not fall for the promises of these charlatans!