Australian Securities and Investments Commission blacklisted 6 BVI registered or BVI located companies

Australian Securities and Investment Commission regularly publishes the list of unlicensed overseas callers (cold callers) and fake regulators, to protect Australian investors from fraudsters, as well as from companies which are not licensed with Australian Securities and Investments Commission and thus are illegal for Australian investors.

The following BVI registered or BVI located companies are on the list:

- Capital Advisory Corporation

- Global Trade and Transfer Ltd
PO Box 3321, Road Town,
Tortola, British Virgin Islands

- International Currency Advisors
IFS Chambers,
Road Town,
Tortola, BVI

- Pryce Weston Incorporated

- Uni World Global Management Limited
Omar Hodge Building
Wickams Cay Road Town
  Tortola
British Virgin Islands

- Worldleader Investment Insider or Worldleader Investment Ltd
Pasea Estate P.O.Box 3149
Road Town, Tortola
British Virgin Islands

It is not necessarily that all these companies and their offers are fake, but Australian investors cannot legally establish relations and have business with them, and from these companies’ side it is not legal to offer their services to Australian residents. As it is stated by ASIC, the companies published on the list are those that have made unsolicited calls to Australians, and not holding the current licence from the Commission. There are also false international ‘regulators’ present on the list.

By words of ASIC, this list, although including all the businesses that came to their attention in recent times, is not comprehensive, because there are new names coming to their attention all the time. These companies are constantly added by the Commission. First of all, it is checked whether they have ASIC license. If they have no Australian licence, they operate unlawfully, and then ASIC contacts them, and orders them to stop their activities in the country. These companies are then reported to the relevant overseas authorities.

Also, ASIC notifies Australian residents about different scams, including phone investment scams: “Australians have lost at least $400 million to telephone investment fraud. So beware of phone calls out of the blue selling investments, financial advice and financial products. Cold calling about financial products or services is illegal if the caller does not have an Australian financial”.