The call was from 0459 381 805 claiming to be Jeremy from CIG Solutions. Yes it’s a crypto-currency scam at cig-solutions[dot]com.

I didn’t have the time to do my usual time-waste and document their MO. Instead, I told him he needed an Australian Financial Services Licence to solicit me. The script he followed repeated that they were not traders but advisors. Even stronger evidence that they should have an AFSL.

I told him I felt sorry for him and that he deserved a better job with a good company that were not scammers. That seemed to confuse him.

Continuing his script, he plunged on to ask if I had any experience with crypto-currencies or trading.

I asked where he and they were based. Austria? So I started speaking to him in German. LOL! He didn’t speak German.

Again, telling him he was breaking Australian law, he went to check with his supervisor. “No, we are not breaking the law,” he came back. But to solicit an Australian resident he needs an AFSL. Not wiggle room there.

Signs they are scammers:

  • “You responded to an (unspecified) online ad for more information” – No I didn’t.
  • Unsolicited call offering investment advice.
  • No Australian Financial Services Licence, and denied requiring one in Australia.
  • Website claims to guarantee returns.
  • Domain name has Privacy Guardian whois protection. Legitimate financial services companies do not hide this information.
  • “Our platform monitors thousands of real-time data points, identifies opportunities using algorithms and technical analysis, then provides you with actionable alerts you can trade on.” Every scammer uses this spiel.

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2 Comments

  1. Hi Paul.
    I also actually dealing with this company, how did you research this company?

    I am based in the UK, i think your post indicates that you are Australian ?
    Are you aware of any legal entities that this company needs to comply with when dealing with the UK ?

    Thank you in advance.

    1. Hi Sam,
      Yes, I’m in Australia. I researched them after they cold-called me on a number that has never signed up for their marketing. If they were legitimate, they would have a licence to operate somewhere in the English-speaking world. They would know the minimum standards required by every jurisdiction they are marketing to. They would not lie about their location. They would never use the phrase “thousands of real-time data points” without mentioning MetaTrader4. That’s just the start.

      The real giveaway is that they called me! I write this blog and it gets 70,000 hits on a good day. All that traffic looks to confirm scams. I’ve been sued by scammers and I’m still up.

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