ASIC Warns of a Possible Fraud Scheme by “Cash FX Group”

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The Australian Securities and Investments Commission (ASIC) warns about the activities of the Cash FX Group, which operates through its website cashfxgroup.com. ASIC recalls that it did not license Cash FX Group (CFX) to provide financial services in Australia. Cash FX Group also has warnings of illegal activity from other regulators.

The Cash FX Group website invites users to participate in the “Trading Academy” with various deposit plans. Cash FX Group claims investors can get a return of over 20% per month from their investments. Such profitability should be considered with caution, ASIC says.

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