The WorldMarkets investment scam (www.worldmarkets.com) has been active since 2019 and has probably harmed tens of thousands of customers since then. The scam has been facilitated by illegal payment processors in a wide range of jurisdictions. In March 2021, the German regulator BaFin issued a Cease-and-Desist Order against FAD Berlin Consult UG, one of the illegal payment processors of WorldMarkets. However, the scam was online until a few weeks ago. Let us do some forensic work together.
At least seven regulators have issued and/or published warnings against the scheme and its facilitators:
- New Zealand FMA – here
- Italian CONSOB – here
- UK FCA – here
- Swiss FINMA – here
- British Columbia Securities Commission (BCSC) – here
- Finish FIN-FSA – here
- German BaFin – here
On TrustPilot, one can find the warning that WorldMarkets has attracted the attention of regulators. In fact, we have alerted TrustPilot to this scam which has used TrustPilot to gain apparent respectability via fake reviews. Please read our report here.
n the past, we have already discovered several companies that supported the WorldMarkets scam:
- the Italian Exodus Europe SRL,
- the Dutch JeDo Advies & Beheer,
- the Polish Kantor Net sp,
- La Paviora Limited in the UK,
- the TEC Bauservice und Handels GmbH in Germany, and
- the German FAD Berlin Consult UG against which the German BaFIN has issued a cease-and-desist order.
The WorldMarkets scheme also used the regulated Lithuanian Simplex Payment Services UAB to process deposits from victims.
If you have any information about WorldMarkets and its operators and facilitators, please share it with us through our whistleblower system, Whistle42.