Warning on unregulated investment schemes

KINGSTON, Jamaica – The Financial Services Commission is warning members of the public to be on the lookout for more unregulated investment schemes.

According to the FSC at least 58 unregulated entities are offering investment services. They include Afflu Wealth, Had Investment Fund, Money Express and Swiss Cash.

The director of communication at the FSC, Nadine Newsome, says the list of illegal investment schemes was compiled in April. She says because the entities are not registered with the FSC, it not clear how many persons have invested in them. It’s also not clear how much money has been deposited in the schemes.

Miss Newsome has declined to say if steps have been taken to have these businesses cease operations. She says none of them has applied to the FSC for a license or a registration certificate. The FSC is advising investors to contact its offices before placing their money in questionable schemes.