On December 19, local time, the latest news came from the Australian Securities and Investments Commission (ASIC) : ASIC officially revoked the AFS license of KP International Group Australia Pty Ltd (hereinafter referred to as KP International) from today!

Suspension of licence due to complaint

The formal revocation follows ASIC's decision to suspend KP International's AFS licence from October 23, 2019 to September 23, 2020. The reason for the announcement is that the Australian Financial Complaints Authority (AFCA) has received a large number of complaints about KP International's inability to withdraw funds.

KP International reported to AFCA that there was a company in the market that fraudulently used KP International's information to provide false financial services to customers. However, as KP International was unable to provide evidence of the existence of the false company, AFCA dismissed KP International's complaint and referred the matter to ASIC.

In response to this situation, ASIC made a decision on October 23 to temporarily suspend KP International's AFS license and start an investigation into the incident.

KP International's thought-provoking reverse operation!

Surprisingly, after the suspension of AFS license, KP International did not actively carry out self-rescue actions such as investigation and appeal. Instead, ASIC was unilaterally informed that all relevant personnel of the company had resigned and that the company had now fully ceased to engage in financial services.

In view of this, ASIC today issued an announcement to formally cancel KP International's AFS licence. ASIC said that since the suspension of the KP International AFS licence, AFCA has continued to receive complaints about KP International from people overseas. Based on the information available at this time, ASIC is unable to determine whether there is a link between the subject of the customer complaint and KP International, and ASIC is still investigating. ASIC advised investors to be cautious about any company providing financial services under the name of KP International.

There is already a "KP International" scam in China

According to FX110, information about KP International was included as early as February 2018. According to the regulatory inquiry information at that time, there is a domestic black platform called Gold Leaf International in the use of KP International's regulatory number for fraud activities.

FX110 network issued a warning in October 2018, reminding the majority of Huihui friends to stay away from the gold leaf international black platform. Unfortunately, until the end of October this year, there are still Hui you are being poisoned by gold leaf international one after another.

Here, Xiaobian reminds the majority of investors to carefully examine the platform qualification, and beware of the invasion of cloning companies and fake companies. When investors are not sure whether the platform is effectively regulated, you can log on to the regulatory inquiry section of FX110. If your preferred platform has not been included in the column, you can also log in the consultation column of the Rights Protection Center to consult the website staff.