The Malta Financial Services Authority (“MFSA” or “the Authority”) has become aware of an entity operating under the name of COINMALEX which has an internet presence at https://coinmalex.com/. Although this entity purports to operate from an address in Malta, the MFSA does not believe that this is the case. The entity claims that “Coinmalex offers trust assets management of the highest quality on the basis of profitable CryptoCurrency trading through Crypto exchanges”.

The MFSA wishes to alert the public, in Malta and abroad, that COINMALEX is NOT licenced NOR authorised by the MFSA to provide the service of an exchange or other financial services which are required to be licensed or otherwise authorised under Maltese law. Furthermore, information available to the MFSA suggests that COINMALEX is likely to be a scheme of dubious nature with a high risk of loss of money. The public should therefore refrain from undertaking any business or transactions with the above-mentioned entity.

The MFSA would like to remind consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator. Investors should also be extra cautious when being approached with offers of financial services via unconventional channels such as telephone calls or social media.

A list of entities licensed by the MFSA can be viewed on the official website of the MFSA.

If you are a victim of a scam or think you might be dealing with an unauthorised entity or any other type of financial scam, first of all stop all transactions with the company and contact the MFSA as soon as a suspicion arises.

The Malta Financial Services Authority (“MFSA” or “ the Authority”) has become aware of an entity operating under the name of Eternity Finance which has an internet presence at https://eternityfinance.io/.

The entity claims to provide a number of services, as stated in their website “Eternity Finance Investment firms operating under the Eternity Finance trademark, are leading online trading service providers, offering investment services for trading with Forex and CFDs on indices, metals, energies, stocks, bonds and cryptocurrencies”.

The Authority would like to inform the public in Malta and abroad, that Eternity Finance is NOT a Maltese registered Company NOR licensed or otherwise authorised by the MFSA to provide any investment services, forex trading, virtual assets trading or other financial services which are required to be licensed or otherwise authorised under Maltese law.

The MFSA would like to remind consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator. Financial regulations obliges licensed businesses to comply with strict legal requirements in the interest of investors and the markets. The activities of unlicensed entities are unregulated making transactions with such entities risky for consumers.

A list of MFSA licensed entities is available and can be viewed on the official website of the MFSA at https://www.mfsa.mt/financial-services-register/.

The Malta Financial Services Authority ("MFSA") has become aware of an entity operating under the name of Spring-FX Pro which has an internet presence at https://springfxpro.com/index.html. As per their website, SpringFx-Pro offers Secured Accounts, Trading Signals, Trade Assistant, Quick Payout and Forex/Crypto Currency News Update.

The Authority would like to inform the public in Malta and abroad, that SpringFx-Pro is NOT a Maltese registered Company NOR licensed or otherwise authorized by the MFSA to provide any financial services or Fintech services which are required to be licensed or otherwise authorized under Maltese law. The Entity mentions that they are regulated by the Malta Financial Services Authority followed by a Licence number. The Authority would like to reiterate that this Licence number is not linked to the entity in subject.

The MFSA would like to remind consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator. Financial regulations oblige licensed businesses to comply with strict legal requirements in the interest of investors and the markets. The activities of unlicensed entities are unregulated making transactions with such entities risky for consumers.A list of MFSA licensed entities is available and can be viewed on the official website of the MFSA at https://www.mfsa.mt/financial-services-register/

The Malta Financial Services Authority (“MFSA” or “the Authority”) has become aware of an entity by the name of MilanoMFX, which has an internet presence at https://www.milanomfx.com/.

As per their website “MilanoMFX presents itself as a leading FX platform and an ideal partner for the three fundamental figures operating in the online trading sector”. Additionally, the entity claims that “Through a partnership agreement with its investors, Milano MFX makes available to its partners a type of investment called PAW, offered by international traders with any profits and / or any already pre-established losses”. The Entity further explains that “To actively participate in a PAW investment, you simply need to open a free account and purchase credits, which will be accounted for in your account in real time”.

The Authority would like to inform the public that even though MilanoMFX is a Maltese registered company it is not authorised to provide any financial services in or from Malta. Additionally, the entity is not licensed nor registered under the Virtual Financial Assets Act (“VFA Act”).

The MFSA would like to remind consumers of financial services not to enter into any financial services transactions unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator. A list of entities licensed by the MFSA can be viewed on the official website of the Authority at https://www.mfsa.mt/financial-services-register/.

If you are a victim of a scam or think you might be dealing with an unauthorised entity or any type of financial scam, first of all, stop all transactions with the company and contact the MFSA at https://www.mfsa.mt/about-us/contact/ as soon as a suspicion arises.

Following a report in a section of the media referring to Binance as a “Malta-based cryptocurrency” company, the Malta Financial Services Authority (MFSA) reiterates that Binance is not authorised by the MFSA to operate in the crypto currency sphere and is therefore not subject to regulatory oversight by the MFSA. The Authority is however assessing if Binance has any activities in Malta which may not fall within the realm of regulatory oversight. Admission of virtual financial assets to trading and/or for offering virtual financial assets to the public in and from Malta requires an MFSA licence in terms of the Virtual Financial Assets Act (CAP 590) of 2018.

The Malta Financial Services Authority ("MFSA" or "the Authority") has become aware on an entity by the name of AlphaEx which has an internet presence at https://www.alphaex.net/

The entity is claiming to be A secure & dependable trading platform, AlphaEx is created for competent investors, businesses, and everyone, who wants to purchase or sell XDC, Ether and Bitcoin worldwide Additionally, the entity claims that it is Registered & Gained Transitoy Licence under MFSA. (sic)

The Authority would like to inform the public that AlphaEx is NOT a Maltese registered company NOR is it authorised to provide any financial services in or from Malta. Additionally, the entity is not licensed nor registered under the Virtual Financial Services Act .

The MFSA would like to remind consumers of financial services not to enter into any financial services transactions unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator. A list of entities licensed by the MFSA can be viewed on the official website of the Authority at https://www.mfsa.mt/financial-services-register/

If you are a victim of a scam or think you might be dealing with an unauthorised entity or any type of financial scam, first of all, stop all transactions with the company and contact the MFSA at https://www.mfsa.mt/about-us/contact/ as soon as a suspicion arises.

The Malta Financial Services Authority ("MFSA") has become aware of an entity operating under the name of KREDIT GROUP FINANCE. The entity is promoting the provision of loan services via advertisements on various internet web pages. The entity is also contacting prospective clients via mass emails in which they state: "Għandek bżonn self biex tikklerja d-djun tiegħek, tħallas il-kontijiet tiegħek jew twaqqaf proġett … Il-kapaċità tas-self tagħna hija minn 5,000 € sa 50,000,000 € b'rata raġonevoli ta' 1.25% … Fi sħubija ma' sħab bankarji madwar l-Unjoni Ewropea, l-offerti ta' kreditu tagħna huma pprovduti permezz ta' trasferiment bankarju għas-sigurtà tat-tranżazzjoni lil kwalunkwe persuna."

While the contents of the email may vary, recipients are provided with the following contact details: email address lencrero@gmail.com and Whatsapp number +33 755931315 for further business enquiries.

The MFSA wishes to alert the public, in Malta and abroad, that KREDIT GROUP FINANCE is NOT a Maltese registered Company NOR licenced or otherwise authorised by the MFSA to provide any banking services or other financial services which are required to be licenced or otherwise authorised under Maltese law. Furthermore, information available to the MFSA suggests that KREDIT GROUP FINANCE is likely to be a scheme of dubious nature with a high risk of loss of money. The public should therefore refrain from undertaking any business or transactions with the above-mentioned entity.

The MFSA would like to remind consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator. Investors should also be extra cautious when being approached with offers of financial services via unconventional channels such as telephone calls or social media.

A list of entities licensed by the MFSA can be viewed on the official website of the MFSA at http://www.mfsa.com.mt/pages/licenceholders.aspx.

If you are a victim of a scam or think you might be dealing with an unauthorised entity or any other type of financial scam, first of all stop all transactions with the company and contact the MFSA at https://www.mfsa.mt/about-us/contact/ as soon as a suspicion arises

The Commissioner for Revenue notifies that as from January 2020, the annual declaration and any notice of payment of VAT for persons registered under article 12, should be filled online through this link. Moreover, it is also notified that the annual declaration for the year 2019 will not by furnished by the Office of the Commissioner.

It is important that registered persons have their e-ID active. If not, kindly obtain it since without the e-ID, no access to the VAT Online Services will be available. For more information regarding the e-ID, you may wish to visit the servizz.gov.mt website

For more information please phone 144 or send an e mail to vat.cfr@gov.mt

Guidelines for such submissions are available from here.

The Commissioner for Revenue notifies that as from January 2020, the annual declaration and any notice of payment of VAT for persons registered under article 12, should be filled online through this link. Moreover, it is also notified that the annual declaration for the year 2019 will not by furnished by the Office of the Commissioner. 

It is important that registered persons have their e-ID active. If not, kindly obtain it since without the e-ID, no access to the VAT Online Services will be available. For more information regarding the e-ID, you may wish to visit the servizz.gov.mt website. 

For more information please phone 144 or send an e mail to vat.cfr@gov.mt

Guidelines for such submissions are available from here. 

The circumstances prevailing within the country are so extraordinary and grave that immediate actions are needed to restore serenity and confidence in the country and in our marketplace. 

Our profession demands an incredibly strong message from government and the institutions in the form of immediate changes in the executive arm running this country and those leading the relevant institutions.   The satisfactory conclusion of the investigations into the murder of Daphne Caruana Galizia must be the primary objective within the country to ensure justice is served, and definitely seen to be served without any shadow of doubt. Conflicts of interest, actual or perceived, must not impact the process or outcome of the investigations.  The persons leading the country, within the government, and the persons leading the relevant institutions have chosen to do so to protect our society, our economy and our market.   These positions carry with them responsibility and accountability for the achievement or otherwise of these objectives.  The people occupying such roles should make way now to avoid further reputational damage for Malta and above all to carry political responsibility. We are in this unsustainable situation where stakeholders and the Maltese people in general have to plead for the appropriate reaction which is obviously expected in a democracy.

Our profession is continuously expected to raise quality standards, comply with more rigorous regulatory requirements and perform better generally.  Likewise, our profession certainly demands that higher standards are also imposed on government, on the public sector and on the relevant institutions.  Our profession is working in extreme adverse conditions with the difficulties experienced with correspondent banking and hence strained relationships with banks and financial institutions; the outcome of the Moneyval assessment and the potential implications on the profile of the country; together with the proposed changes in the regulatory framework within which accountants work, impacting severely the market place.  We have been let down by the certain elements within government and the institutions.  The professed higher standards need to be embraced by these as well as being imposed on the private sector and professionals in general. 

These higher standards need to be implemented today through changes in the leadership of the country and of the institutions.   We simply cannot wait anymore; our economy and our market dictate this.