Securities and Futures Commission Issues Warning against Great Wisdom International Co. Ltd

The Securities and Futures Commission has just issued a warning for the Hong Kong locals to be cautious of a financial service provider. The regulatory authority has issued the warning against Great Wisdom International and the services it is offering.

The regulator has warned investors and the locals in Hong Kong that the firm is involved in offering financial services without registering itself. Therefore, the firm is not authorized to operate and provide financial services and securities to the locals in Hong Kong.

Still, if the firm is offering financial services, which is not a regulated or authorized practice from the Great Wisdom International.

The firm is falsely claiming that it is authorized and permitted to offer its financial services to the locals in Hong Kong.

Great Wisdom International has gone an extra mile claiming that it is indeed a registered company in Hong Kong. The firm has copied the company number and is using the name of a registered company in Hong Kong while operating.

The Firm is Unregistered

In Hong Kong, it is a strict policy that any firm wanting to offer financial services in the country, has to be authorized. They need to have a proper license and authorization by the relevant regulatory authority before they can start operating as a financial service providing entity in Hong Kong.

The Securities and Futures Commission is the accurate regulatory authority in Hong Kong authorized to issue license for financial companies to operate.

The Securities and Futures Commission has confirmed that the particular firm is not registered through them. Therefore, any services or products acquired through the firm are unsafe, risky, and unregistered.

If the investors in Hong Kong interact with the firm and end up losing money, none of the regulatory authorities will be able to offer them. The services/products acquired through unlicensed financial entities in Hong Kong are not covered at all.

If money is lost to such a money, then it is lost forever. This is the reason why the Securities and Futures Commission has issued a clear warning for the benefit of the investors in Hong Kong. Interacting with Great Wisdom International is just a risky thing and must be avoided at all costs.

The Firm is claiming to be a Registered Entity

To earn the trust of the innocent people in Hong Kong, the firm goes onto claim that it is registered to operate in the country. The firm has stolen the business number and other details of a registered and legal financial firm from Hong Kong.

According to the Securities and Futures Commission, many fraudulent firms and schemers tend to follow the same strategy. They use the business and operating details of a licensed company based in the respective country to hide their true identity.

This way, they manage to gain the trust of the locals in the respective country so they can get as much money out of them as possible. Therefore, the investors have to remain cautious and alert when dealing with the firm so they do not end up getting preyed on.

The Securities and Futures Commission (SFC) even reached out to the registered entity in Hong Kong to see confirm if it had anything to do with the website. The registered company going by the name Huatai Financial Holdings has confirmed it has nothing to do with the website.

This goes to confirm that the particular firm is nothing but a fraudulent entity launched with the sole purpose of stealing money from the innocent investors.

Information about Great Wisdom International

Great Wisdom International claims it is based in Hong Kong and the website address to reach the platform is https://lgkgfjt.cn. From the looks of it, the firm seems to be operating from Canada yet it claims it is based Hong Kong.

The regulator has asked the entire investment community to do complete investigation of the firm before becoming a part of it.