Electronic Currency Firms in Australia Shut Down
Nov 11th 2004, 5:46 am
#1
Migration Agent
Thread Starter
Joined: May 2002
Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
Electronic Currency Firms in Australia Shut Down
The Australian Securities and Investments Commission (ASIC) has advised consumers to be wary of the financial products and advice they obtain via the internet after shutting down a number of internet currency exchange businesses.
Following an examination of electronic currency trading websites, ASIC became aware of three Australian-based businesses operating such sites or acting as agents for similar businesses based overseas. These businesses exchanged conventional currencies to electronic currencies and vice-versa, and charged a commission for their services. However, they did not hold an Australian financial services license (AFSL).
Executive Director of Enforcement, Jan Redfern, said consumers need to be discerning about the financial products available on the internet and local businesses must be careful about dealing in unregulated overseas based financial products. If a business is not properly registered with an AFSL then consumers cannot be sure about the quality of the product or advice they are receiving. Also, offering financial advice or products without a licence is illegal.
The websites involved were:
www.goldex.net
www.sydneygoldsales.com
www.ozzigold.com
More details here
Best regards.
Following an examination of electronic currency trading websites, ASIC became aware of three Australian-based businesses operating such sites or acting as agents for similar businesses based overseas. These businesses exchanged conventional currencies to electronic currencies and vice-versa, and charged a commission for their services. However, they did not hold an Australian financial services license (AFSL).
Executive Director of Enforcement, Jan Redfern, said consumers need to be discerning about the financial products available on the internet and local businesses must be careful about dealing in unregulated overseas based financial products. If a business is not properly registered with an AFSL then consumers cannot be sure about the quality of the product or advice they are receiving. Also, offering financial advice or products without a licence is illegal.
The websites involved were:
www.goldex.net
www.sydneygoldsales.com
www.ozzigold.com
More details here
Best regards.
Nov 11th 2004, 10:20 am
#2
Joined: Dec 2003
Posts: 7,834
Re: Electronic Currency Firms in Australia Shut Down
[QUOTE=Alan Collett]The Australian Securities and Investments Commission (ASIC) has advised consumers to be wary of the financial products and advice they obtain via the internet after shutting down a number of internet currency exchange businesses.
Following an examination of electronic currency trading websites, ASIC became aware of three Australian-based businesses operating such sites or acting as agents for similar businesses based overseas. These businesses exchanged conventional currencies to electronic currencies and vice-versa, and charged a commission for their services. However, they did not hold an Australian financial services license (AFSL).
Executive Director of Enforcement, Jan Redfern, said consumers need to be discerning about the financial products available on the internet and local businesses must be careful about dealing in unregulated overseas based financial products. If a business is not properly registered with an AFSL then consumers cannot be sure about the quality of the product or advice they are receiving. Also, offering financial advice or products without a licence is illegal.
The websites involved were:
www.goldex.net
www.sydneygoldsales.com
www.ozzigold.com
More details here
worth bumpin back to the top me thinks
Best regards.[/QUOTE, well aparently my message is too short hmmm it wont be now lol
Following an examination of electronic currency trading websites, ASIC became aware of three Australian-based businesses operating such sites or acting as agents for similar businesses based overseas. These businesses exchanged conventional currencies to electronic currencies and vice-versa, and charged a commission for their services. However, they did not hold an Australian financial services license (AFSL).
Executive Director of Enforcement, Jan Redfern, said consumers need to be discerning about the financial products available on the internet and local businesses must be careful about dealing in unregulated overseas based financial products. If a business is not properly registered with an AFSL then consumers cannot be sure about the quality of the product or advice they are receiving. Also, offering financial advice or products without a licence is illegal.
The websites involved were:
www.goldex.net
www.sydneygoldsales.com
www.ozzigold.com
More details here
worth bumpin back to the top me thinks
Best regards.[/QUOTE, well aparently my message is too short hmmm it wont be now lol
Nov 11th 2004, 11:48 am
#3
What's happening dudes?
Joined: Mar 2004
Location: Bayside Brisbane
Posts: 20,647
Re: Electronic Currency Firms in Australia Shut Down
Originally Posted by Alan Collett
The websites involved were:
www.goldex.net
www.sydneygoldsales.com
www.ozzigold.com
More details here
www.goldex.net
www.sydneygoldsales.com
www.ozzigold.com
More details here
Nov 11th 2004, 2:05 pm
#4
Phil is NOT a bloke!!!!
Joined: Sep 2004
Location: Woonona, NSW.(just South of Sydney!!)
Posts: 466
Re: Electronic Currency Firms in Australia Shut Down
Originally Posted by Alan Collett
The Australian Securities and Investments Commission (ASIC) has advised consumers to be wary of the financial products and advice they obtain via the internet after shutting down a number of internet currency exchange businesses.
Following an examination of electronic currency trading websites, ASIC became aware of three Australian-based businesses operating such sites or acting as agents for similar businesses based overseas. These businesses exchanged conventional currencies to electronic currencies and vice-versa, and charged a commission for their services. However, they did not hold an Australian financial services license (AFSL).
Executive Director of Enforcement, Jan Redfern, said consumers need to be discerning about the financial products available on the internet and local businesses must be careful about dealing in unregulated overseas based financial products. If a business is not properly registered with an AFSL then consumers cannot be sure about the quality of the product or advice they are receiving. Also, offering financial advice or products without a licence is illegal.
The websites involved were:
www.goldex.net
www.sydneygoldsales.com
www.ozzigold.com
More details here
Best regards.
Following an examination of electronic currency trading websites, ASIC became aware of three Australian-based businesses operating such sites or acting as agents for similar businesses based overseas. These businesses exchanged conventional currencies to electronic currencies and vice-versa, and charged a commission for their services. However, they did not hold an Australian financial services license (AFSL).
Executive Director of Enforcement, Jan Redfern, said consumers need to be discerning about the financial products available on the internet and local businesses must be careful about dealing in unregulated overseas based financial products. If a business is not properly registered with an AFSL then consumers cannot be sure about the quality of the product or advice they are receiving. Also, offering financial advice or products without a licence is illegal.
The websites involved were:
www.goldex.net
www.sydneygoldsales.com
www.ozzigold.com
More details here
Best regards.
Thanks for the information,
Phil
