Alert: Impersonation of ITS Tech Limited and Unauthorised Offers of Brokerage Services
The Astana Financial Services Authority (AFSA) would like to inform the financial services community about fraudulent activities involving the unauthorised use of the name ITS Tech Limited.
AFSA has received information that certain individuals are misrepresenting themselves as employees of ITS Tech Limited and soliciting retail investors with offers of brokerage accounts and investment services. We wish to clarify that while ITS Tech Limited is registered in the AIFC, it is not licensed by AFSA to conduct brokerage or investment activities. The company’s function is restricted to supporting the trading infrastructure of International Trading System Ltd. (“ITS”) (MTF), including software development, system access, and technical support for licensed brokers and banks. ITS Tech Limited does not engage directly with retail investors, does not open accounts for individuals, and does not accept client funds.
The official website of ITS is www.itsx.kz. Any other websites or persons claiming to represent ITS Tech Limited in dealings with the public should be regarded as potentially fraudulent.
ITS Tech Limited informed AFSA that it is making all reasonable efforts to block the identified fraudulent sites.
AFSA strongly advises the public to verify the authorisation of any firm through its official Public Register, which contains up-to-date information on all entities registered in the AIFC and firms licensed by AFSA. Checking a firm’s regulatory status before engaging in financial services or products is vital for investor protection, particularly as fraudsters may use forged licences bearing AFSA’s name and branding to appear legitimate. The Public Register on AFSA’s official website is the only reliable source for confirming a firm’s status.
AFSA strongly advises against engaging with persons claiming to represent ITS Tech Limited for the purpose of opening brokerage accounts or transferring funds. If you have been approached by such individuals, you should immediately contact the law enforcement authorities of the Republic of Kazakhstan. Concerns about the authenticity of correspondence or potential scams can also be reported directly to AFSA via the online form available on our website.
Reference:
The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), which is established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC. AFSA administers the AIFC Regulations and Rules and is responsible for the authorisation, registration, recognition and supervision of financial firms and market institutions in the AIFC.
Over 4,300 firms from around 85 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.afsa.kz
The Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan’s economy. https://aifc.kz/
Contact information:
Public Relations and Communications Division of AFSA: +7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]