HW Securities is running a fake currency trading scam. The organisation claims to be a division of Hing Wong Securities Ltd domiciled in Hong Kong, with offices in Dublin and Frankfurt. A visit to the Dublin office revealed that they are not there and nobody has heard of them.
The company’s website was registered in August 2019. A copy of the HW Securities brochure is provided here, complete with spelling mistakes. It describes itself as “a Hong Kong based state of the art investment firm”.
For the avoidance of doubt HW Securities is a scam. The trades it claims to make on behalf of investors are fake. They were never made. It is just a smart piece of software which makes it look like trades have taken place.
HW Securities has used a series of money mule companies to collect payments from investors. The money mules act as cut-outs to prevent investors from finding out the ultimate destination of the money. We know HW Securities has taken in at least £500,000 from investors.
One of the UK money mule accounts used by the company was:
Bank Name: TIDE BANK
Account Name: UTE UK LIMITED
Sort Code: 23-69-72
Account Number: 20316349
Action is being undertaken against the people involved in this company.
There is clear evidence this scam was established by the same people behind the St James Asset Management, Van Gossum Consult and Brooklands Investment Funds PLC scams. You can read about each of them on these links.
This is the fourth scam product established by the same organised crime gang. This group has scammed tens of millions of dollars from investors. We are still making progress on these cases and will publish an update in the near future.