In the digital age, where connectivity and convenience reign supreme, the landscape of criminal activities has also evolved. Financial scams have taken on new forms, exploiting technology to dupe unsuspecting individuals and organizations. One such fraudulent scheme that gained notoriety is the MBBO scam, leaving victims financially devastated and emotionally distraught. In this MBBO review, we delve into the MBBO scam, understanding its modus operandi, exploring real-life cases, and providing you with essential tips to protect yourself from falling victim to such financial fraud.
Website – https://mbbo.vip/, https://mbbo2.vip/
Website Availability – No
Address – NA
Warnings – Securities Commission Malaysia (Malaysia)
Regulation – Unregulated
Is MBBO legit or a scam broker?
Even though MBBO asserts to be run by Coinftx, a business with headquarters in Singapore and operation centers in the US, South Korea, and Hong Kong, our investigation has not turned up any proof of the company’s authenticity in the forex markets.
In particular, we want to emphasise that the National Futures Association (NFA) is in charge of overseeing the futures and derivative markets in the US. To lawfully offer financial products or services in the US, a broker must be a member of the NFA. This means that a broker’s licences, such as the MSB licence issued by the Financial Crimes Enforcement Network (FinCEN) and the registration certificate, do not always prove that the broker is trustworthy.
We looked up MBBO on the NFA database but were unable to locate any records that matched, which suggests that MBBO is improperly conducting forex business.
Warnings Issued against MBBO
The Malaysia Securities Commission (SC) has put MBBO to its warning list after discovering that it is not registered to operate a digital asset exchange (DAX).
In essence, there is no recognised financial regulatory organisation that is in charge of MBBO. There are no legal safeguards in place to secure such money, making it highly risky to entrust this broker with investors’ money. It is definitely a fake.
How does the MBBO scam work?
- Attractive Offer: Scammers create enticing advertisements or messages that promise easy money through online opportunities. These could include work-from-home jobs, investment opportunities, or ways to generate passive income.
- Initial Investment: Victims are required to make an initial investment to get started. This could involve purchasing a starter kit, investing in a supposed business venture, or paying a fee to access the promised money-making system.
- False Promises: Once the victim invests, the scammer paints a rosy picture of wealth and success. They may showcase fake testimonials, fabricated success stories, and manipulated financial statements to create an illusion of legitimacy.
Negative reviews and Complaints
On the web, there are a lot of bad MBBO reviews. Our recommendation is to look for broker reviews online. A standard web search can provide information about whether unfavorable comments are the result of a disgruntled customer or something more serious. Our list of scam brokers 2023, which describes who scam brokers are and why you should avoid them, is a good addition to this kind of inquiry.
MBBO Review: Conclusion
There is no established financial regulatory organization that regulates MBBO. Because there are no established legal measures to protect investor money, it is exceedingly risky to entrust this broker with that money. It is unquestionably fraudulent. You can get assistance and a resolution if you find yourself a victim of the MBBO scam or any other fraudulent conduct. By submitting a complaint through our Scam Bitcoin website, you will be eligible for a free consultation with a member of our team of specialists who is solely focused on helping you find a solution to your problem.
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