The Gibraltar Financial Services Commission (GFSC) is issuing a warning regarding the website https://wavecrest-capital.com and the entities therein referred to as Wavecrest Capital, Wavecrest Holdings Ltd, and Wavecrest Group Ltd.
This website was using several of the company details of Wave Crest Holdings Limited (a genuine registered company) to try and convince people that they work for a company legally registered within Gibraltar and authorised by the GFSC. This appears to be a ‘clone company’, and this suspected clone company was purporting to offer investment services. It appeared that https://wavecrest-capital.com also used a name almost identical to that of the genuine company and so care should be taken not to confuse the two.
The genuine registered company is authorised by the GFSC to provide services in relation to Payment Services and E-money.
The genuine firm makes it clear that neither https://wavecrest-capital.com nor the entities referred to therein are in any way associated with the activities of Wave Crest Holdings Limited, a company legally registered in Gibraltar.
Companies and individuals carrying out financial service activities in Gibraltar have to be authorised by the GFSC. The suspected clone website, https://wavecrest-capital.com, falsely claimed that they were authorised by the GFSC however, this is not correct. None of the entities referred to on this website are authorised by the GFSC, nor is an application pending for authorisation at present and this suspected clone company and its website are targeting consumers.
You can find out more about how to avoid fraud and scams in our consumer guide here.
Clone company details
Name(s): Wavecrest Capital; Wavecrest Holdings Ltd; Wavecrest Group Ltd (clone of a Gibraltar-registered company and associated entities).
Gibraltar-registered company details
Name: Wave Crest Holdings Limited (Genuine Gibraltar-registered Company).
Website: https://www.wavecrest.gi/ (Genuine Gibraltar-registered Company website).
Authorised under the Financial Services Act 2019; find the entry on the GFSC register here.
The Gibraltar-registered company has no association whatsoever with the ‘clone company or clone website’.
How to protect yourself
We strongly advise you to only deal with financial companies that are authorised by us, and check the GFSC Regulated Entities Register to ensure they are. The register has information on companies that are, or have been, regulated by us. If a company does not appear on the Register but claims it does, contact the GFSC Regulatory Investigations team on +350 200 40283.
Report a clone company
If you think you have been approached by an unauthorised or clone company, or contacted about a scam, please contact us.
What to do if your company is cloned
If you think your authorised company has been cloned or scammers are fraudulently using your name or other details, contact the GFSC Regulatory Investigations team on +350 200 40283.