The Australian Securities & Investments Fee is the most recent regulator to situation a warning in opposition to the OneCoin Ponzi scheme.
As per ASIC’s funding fraud warning, the regulator warns OneCoin
might be concerned in a rip-off. Don’t take care of this enterprise as it’s unlicensed in Australia.
ASIC goes on to state that OneCoin Restricted
has made unsolicited calls or despatched emails about investing, monetary recommendation, credit score or loans and doesn’t maintain a present Australian Monetary Companies (AFS) licence or an Australian Credit score licence from ASIC.
Owing to the passive nature of OneCoin’s funding alternative, to function legally it must register itself with monetary regulators in each jurisdiction it solicits funding in.
Regardless of launching in 2014, so far OneCoin has did not register itself with a single monetary regulator.