The Monetary Authority of Singapore (MAS) has placed Fintoch on its Investor Alert List, citing securities fraud concerns. This action, dated May 4th, flags the investment platform for potentially misleading investors about its regulatory standing. The MAS alert specifically names Fintoch’s official website, fintoch.com, and a promotional site, fintochonline.com, associated with promoter Shaikh Noorul Amin.

The MAS Investor Alert List serves as a public record of entities that may be mistakenly perceived as MAS-licensed or authorized. It also identifies those making offers for business trusts or collective investment schemes that appear to have MAS approval without proper registration. Fintoch’s operations, described as a passive returns investment scheme, fall under the latter categories, indicating a lack of regulatory oversight.

Fintoch is not registered to offer securities in any jurisdiction. This lack of registration constitutes securities fraud and highlights the company’s illegal global operations. Investigations point to Fintoch operating as a Ponzi scheme. The scheme is fronted by US actor Mike Provenzano, who portrays a fictional CEO named “Bobby Joe Lambert.” Current intelligence suggests the operation is managed by scammers based in Southeast Asia. While Ponzi schemes are sometimes linked to Russian operators, the specific individuals behind Fintoch remain unidentified.

Website traffic analysis from February 2023 shows significant user engagement from Cambodia, accounting for 43% of visitors. China followed with 24%, South Korea with 17%, Hong Kong with 7%, and Malaysia with 6%. Since February 2023, Fintoch’s website traffic saw a substantial increase of approximately 300%. However, detailed geographical data for this surge is not available.

In an apparent attempt to relaunch, Fintoch has been rebranding as Standard Cross Finance. This rebranding effort was noted on August 18th, 2023, suggesting a continuation of its operations under a new guise. Investors are advised to exercise extreme caution.