Scammed by COF Global? Take Action Now
Get a free consultation with cyber intelligence experts through the form below to track scammers and trace your funds.
What Is COF Global?
COF Global (cofglobal.com) operates as an unregulated company, meaning it does not hold a license with any major regulatory authority, such as the Financial Conduct Authority (FCA) or the Australian Securities and Investments Commission (ASIC).
Investing with an unregulated broker exposes your funds to significant risks. Without oversight, there is no guarantee your money will be protected. It is strongly advised to avoid investing in platforms that lack proper regulation.
Risks of Trading with an Unregulated Broker
Trading with unregulated brokers presents several serious risks. First, these companies operate without the scrutiny of a recognized financial authority, meaning they are not held to any standards of transparency or accountability. This makes it far easier for them to engage in unethical or fraudulent practices.
Another major risk is the potential for loss of funds. If an unregulated company goes bankrupt or disappears, there is little to no recourse for investors to recover their money. Unlike regulated platforms, unregulated ones are not required to maintain client fund segregation or participate in compensation schemes.
Unregulated companies also tend to use misleading marketing tactics to attract investors. They may promise guaranteed profits or advertise fake endorsements from celebrities, creating a false sense of security. These strategies are designed to deceive and exploit unsuspecting investors.
Lastly, unregulated companies frequently impose unreasonable fees or restrictions when investors attempt to withdraw their funds. This is a common tactic used to prevent victims from retrieving their money, further highlighting the risks of engaging with these entities.
What to Do If You’ve Been Scammed
If you’ve already invested with an online scam, take the following steps immediately:
- Contact your bank or payment provider to dispute the transaction.
- Gather all evidence, such as receipts, emails, and screenshots.
- File a report with your country’s financial regulatory authority.
- Reach out to a legal or cyber intelligence expert for further assistance.
Frequently Asked Questions
What Does It Mean If a Company Is Unregulated?
Unregulated companies operate without a license from a recognized financial authority. This means they are not required to follow any rules designed to protect investors, making them risky to deal with.
Why Is It Risky to Invest With an Unregulated Broker?
Unregulated brokers lack oversight, making it easier for them to engage in fraudulent activities. Your funds are not protected, and recovering losses is often impossible.
How do I Verify If a Company Is Regulated?
You can verify a company regulatory status by checking the public registers of financial authorities like the FCA, ASIC, or your local regulator. Ensure the company’s details match the information provided by the regulator.