Public Warning – Live Secure Trade / LST International

This notice is issued by the Isle of Man Financial Services Authority (“the Authority”) in accordance with the powers conferred upon it under Section 30 of the Financial Services Act 2008.

Warning of suspected bogus entity

Live Secure Trade / LST International (“the entity”)

https://lst-ic.com/, lst-ic.net, https://www.lst-inc.org/ (“the website addresses”)

support@lst-ic.info (“the website”)

This statement is to warn members of the public against dealing with unauthorised financial service providers.

The Authority has become aware of the websites, claiming to offer financial services including the issuing of electronic money and money transmission services. 

Within documentation seen by the Authority, the entity claims that LST International is authorised by the Authority  to carry out money transmission services quoting the unique licence reference number 1357

The Authority wishes to draw attention to the following observations:

The directors of the genuine Isle of Man company with the unique licence reference number 1357 confirm they have no connection whatsoever with the entity and no permission has been given to use their company details within the website or on other social media sites. Use of bogus information within the correspondence seen by the Authority gives us concerns as to the legitimacy of the offerings.

The Authority has failed to establish any association between the entity and any genuine Isle of Man companies or businesses.

The entity is not licensed with the Authority to offer the range of financial products on the website.  A list of all entities licensed or registered by the Authority can be found at:

https://www.iomfsa.im/register-search/

Under the circumstances, the Authority is concerned that any person who has accessed the website or received correspondence from the entity may potentially become the victim of fraud or it may be an attempt at gaining personal data from the browser in order to steal their identity.

General advice on how to avoid becoming a victim of identity theft and advanced fee frauds can be found on the Action Fraud website at http://www.actionfraud.police.uk/ID and http://www.actionfraud.police.uk/fraud-az-advance-fee-fraud respectively.

Any persons who are already involved in any dealings with the website should consider notifying their local Police, bringing to their attention the contents of this notice.

Anyone with general concerns concerning any individual or company holding themselves out as conducting a regulated activity in or from the Isle of Man without the requisite licence should contact the Enforcement Division at the Authority on +44 1624 689311 or by e-mail to enforcement@iomfsa.im for advice.

Authority Reference:  NR/11/2023 – 26 October 2023