The British Virgin Islands Financial Services Commission issued public statements concerning the companies named E-Crypto Trade & Finance Group, Inc. and ZAR Solutions Limited, in order to protect the public interest, and the interests of any customers or creditors of these companies.
The commission informed that E-Crypto Trade & Finance Group, Inc. has never been incorporated in the jurisdiction, or received any license by the FSC to carry on any type of financial services business in or from withing the BVI. E-Crypto is circulating false certificate of incorporation and is soliciting investment business without the required authorization and licence.
The second company, ZAR Solutions Limited, has never been licensed or regulated by the Commission to carry on financial services business in the British Virgin Islands. It was incorporated in the jurisdiction on 21 July 2014, and is believed to conduct online forex trading and other investment related business without having the requisite licence from the Commission.