FMA Updates Warning List, Adds Three Suspicious Entites

New Zealand Financial Markets Authority added YuanPay Group, bslcorporationltd.co and Winn Group Ltd to its warning list.

​The regulator reported the following details of the three companies:

YuanPay Group

Entity name: YuanPay Group

Associates names: YuanPay Group International SA, Yuan Payments Group International SA

Website: https://yuanpaygroup.com and https://yuanpaymentsys.com

bslcorporationltd.co

Entity name:  https://www.bslcorporationltd.co/

Webpage: https://www.bslcorporationltd.co/

Email:  support@bslcorporationltd.com

Winn Group Ltd

Address: 55 Baker Street, London, W1U 8EW, United Kingdom

Website: https://www.winngroups.com/

Telephone: +6448894942

Email: support@winngroups.ltd

The watchdog warned that the three companies may be operating a scam. Specifically, YuanPay Group has been advertising their trading services in Chinese digital Yuan with fake news articles featuring a New Zealand celebrity. In addition, the digital yuan product is not available for trading. As for bslcorporationltd.co, its website is not associated to or authorised by the NZ registered company BSL Corporation Limited. In addition, Winn Group Ltd has been taking unauthorized payments from investors’ accounts.

None of the three entities above is registered on the Financial Service Providers Register or licensed by the FMA. They are not permitted to provide financial services or financial products in New Zealand.

​FMA strongly advises the public to only deal with financial firms that are authorized, and to exercise caution when dealing with suspicious entities.