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BMVSG
On May 1, 2024, the Securities Commission of The Bahamas (SCB) added BMVSG to warning list for offering financial services or products without their permission. https://www.scb.gov.bs/wp-content/uploads/2024/05/Public-Notice-4-of-2024-Entities-Not-Regulated-by-the-Securities-Commission-of-The-Bahamas-May.pdf
On May 1, 2024, the Securities Commission of The Bahamas (SCB) added BMVSG to warning list for offering financial services or products without their permission. https://www.scb.gov.bs/wp-content/uploads/2024/05/Public-Notice-4-of-2024-Entities-Not-Regulated-by-the-Securities-Commission-of-The-Bahamas-May.pdfContrary to its attempts to establish a reputable presence, all signs point to BMVSG being untrustworthy.
First and foremost, its claims of being licensed by the Securities Commission of the Bahamas (SCB) have been refuted by the SCB itself. BMVSG is included in the warning list published by the SCB, which explicitly indicates that this entity is not authorized by the financial watchdog. This serves as strong evidence of its dishonesty.
The domain name of BMVSG was registered as recently as April 2024. However, it purports to have been founded in 2010, under supervision across different jurisdictions. It's crucial to note that if a broker's website registration date doesn't align with its alleged age, this discrepancy raises a red flag for potential fraudulent activity. Consequently, it appears that BMVSG is merely listing the names of different financial authorities to project a sense of legitimacy. The process of applying for a license is time-consuming, energy-intensive, and costly. This fact makes it highly unlikely for a newly registered investment website to acquire so many licenses in such a short time.
In essence, BMVSG is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.
BMVSG appears to be a scam.
Contrary to its attempts to establish a reputable presence, all signs point to BMVSG being untrustworthy.First and foremost, its claims of being licensed by the Securities Commission of the Bahamas (SCB) have been refuted by the SCB itself. BMVSG is included in the warning list published by the SCB, which explicitly indicates that this entity is not authorized by the financial watchdog. This serves as strong evidence of its dishonesty.The domain name of BMVSG was registered as recently as April 2024. However, it purports to have been founded in 2010, under supervision across different jurisdictions. It's crucial to note that if a broker's website registration date doesn't align with its alleged age, this discrepancy raises a red flag for potential fraudulent activity. Consequently, it appears that BMVSG is merely listing the names of different financial authorities to project a sense of legitimacy. The process of applying for a license is time-consuming, energy-intensive, and costly. This fact makes it highly unlikely for a newly registered investment website to acquire so many licenses in such a short time.In essence, BMVSG is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.BMVSG appears to be a scam.
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