Dartalon Ltd flagged as unreliable by ASIC

ASIC Scam Featured 22May

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The ultimate financial regulator in Australia, the Australian Securities and Investments Commission (ASIC) has released information that Dartalon Ltd is a scam. Darlton Ltd is presented as a company offering various financial and exchange services, including Forex, CFD and Crypto trading; however, ASIC claims that they do not have a license to perform such operations.

Crypto scams are on the rise in recent months, and this has led the ASIC to start monitoring providers to improve the protection of customers.

According to ASIC, Darlton Ltd has been performing operations under the name GFC Investments, and this entity does not have a registration or a licence with the regulator. Consequently, the ASIC has decided to publically warn people no to interact with these entities and to avoid any involvement with them regarding financial transactions.

Currently, GFC Investments operates a fully functional online platform where users can deposit and invest funds; however, ASIC strongly discourages visits to the site.

Because of the rise of crypto and trading scams, regulatory bodies around the world are increasing their efforts in battling scammers. Their job is made harder, as unregulated and fake platforms are continually upgrading, and it becomes almost impossible to distinguish a scam platform from a real one.

This is why the only way to check the legitimacy of such trading platforms is to see if they are registered with any regulator, just as is the case with Dartalon Ltd. While their platform and overall organization gives out a professional vibe and secures the trust of users, their operation is illegal, as they do not have the necessary licenses.

During the ASIC Annual Forum in Sydney, which took place on 16-17 May 2019, ASIC Chair James Shipton emphasized on the need to provide legitimate financial services for the people and serve customers in a fair manner.

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Tina Yordanova

Back from her stint with European Central Bank, Morgan Stanley, Barclays, Societe Generale, Hilton Hotels, and Aviva International, Tina rejoins Cryptopolitan with a deeper insight regarding the financial world, blockchain enterprises and institutions and practices involved in it. She is eager to share her rounded perspective honed from the biggest media analysis companies on the Balkans.

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