Donald George S_ King

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What is a fake regulatory license scam?

In this scam, fraudsters set up websites pretending to be regulated brokers and display cloned or fabricated license numbers. They may copy real regulator logos, like FCA or ASIC, to appear legitimate. Traders deposit funds believing they are protected, only to find withdrawals blocked. The key defense is verifying licenses directly on official regulator websites. If the broker’s legal entity name or address does not match, it is a red flag. Scammers rely on traders skipping due diligence, so independent verification is crucial.