Illegal Circulation of Counterfeit FMA License Certificates Detected
Author: Financial Markets Authority
A surge in reports has brought attention to a concerning trend involving the circulation of fraudulent Financial Markets Authority (FMA) license certificates. Individuals are employing these fake licenses to persuade unsuspecting individuals to invest their money with sham investment brokers. Among the cases reported, the name of a legitimate New Zealand-based entity, Collinson Crowdfunding Limited, has been misused in attempts to deceive potential investors.
Impersonating a Legit Brand
Collinson Crowdfunding Limited, a licensed entity for operating a crowdfunding service, has been wrongly associated with these deceptive activities. It is crucial to note that Collinson Crowdfunding is not involved in any fraudulent practices. Complaints reveal that communication with the counterfeit licensees has primarily occurred through the messaging app Telegram.
Verification Tips:
To safeguard against falling victim to such scams, individuals are advised to verify the authenticity of license certificates through the following methods:
- Check the Financial Service Providers (FSP) Register here to ensure the license holder is listed. Verify that the FSP number, entity/license holder's name, and the registered/licensed service type match the information on the certificate.
- Many FSP and license holders are New Zealand-registered companies, with their details available on the Companies Register. However, exercise caution and do not use the contact details provided on the certificate; instead, independently verify them.
- If contact details are absent from the Companies Register, search for the company/license holder's website online. New Zealand company websites typically end with .co.nz but may have other domain names.
Caution and Prevention
We urge readers to share this warning with friends and family, especially on social media platforms, to protect others from falling prey to these deceptive practices.
Below is an image of one of these fake license certificates. All incidents reported so far involve similar-looking certificates, with only the name of the license holder changed.
We recommend caution when dealing with any person or entity that provides you with a licence certificate such as this.
This article is published in collaboration with the Financial Markets Authority
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