MFSA warning: IbanFX Limited – Unlicensed entity

The Malta Financial Services Authority has become aware of an entity operating under the name of IbanFX Limited which has an internet presence at http://www.ibanfx.com/. The entity allegedly offers clients assistance in obtaining EU online business accounts in various currencies, as well as Currency Conversions, SEPA and Swift Payments, Forward Contracts, Merchant Accounts and Bulk Payments, among other services. It also claims that its “offices are based in Malta and the UK”.

The MFSA wishes to alert the public, in Malta and abroad, that IbanFX Limited is NOT a Maltese-registered company NOR licenced or otherwise authorised by the MFSA, to provide any banking services or other financial services which are required to be licenced or otherwise authorised under Maltese law. The public should therefore refrain from undertaking any business or transactions with the above-mentioned entity.

The MFSA would like to remind consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator. Investors should also be extra cautious when being approached with offers of financial services via unconventional channels such as telephone calls or social media.

A list of entities licensed by the MFSA can be viewed on the official website of the MFSA at https://www.mfsa.mt/financial-services-register/