Business
Warning Over Fake Service Provider
The directors of the genuine Isle of Man company confirmed it is not associated with them
Islanders have been warned about a fake financial services company that has falsely claimed to be connected to a legitimate Manx firm.
The Financial Services Authority said it has become aware of a website, claiming to offer financial services.
The website claims that ‘PotraderAI’ is operated by GEL Holdings Limited, a legitimate Isle of Man company with an address on the island.
The FSA said: ‘The financial services offered in the website would, if undertaken in or from the Isle of Man require the providers to be licensed or registered by the Authority under existing legislation.’
It added: ‘The directors of the genuine Isle of Man company, GEL Holdings Limited confirm they have no connection whatsoever with ProtraderAI and no permission has been given to use their company details within the website. Use of bogus information within the website gives us concerns as to the legitimacy of the offerings.
‘The Authority has failed to establish any association between the entity and any genuine Isle of Man companies or businesses.’
It continued that it is concerned that any person who has accessed the website may potentially become the victim of fraud or it may be an attempt at gaining personal data from the browser in order to steal their identity.
Any persons who are already involved in any dealings with the website should consider notifying their local Police, bringing to their attention the contents of this notice.
Anyone with general concerns concerning any individual or company holding themselves out as conducting a regulated activity in or from the Isle of Man without the requisite licence should contact the Enforcement Division at the Authority on +44 1624 689311 or by e-mail to enforcement@iomfsa.im for advice.
