On Monday, the Central Bank of Ireland blacklisted Capital Hall, another offshore broker that targets traders in Ireland without permission. Capital Hall is owned by Capital Tech Ltd., a company based in the Marshall Islands, but all payments are processed by a third-party company in Bulgaria.
And the Central Bank of Ireland warning is not the first against them. In October, the same broker fell into the spotlight of the National Commission for Society in Italy (CONSOB), which also accused them of targeting merchants in the country without permission.
In addition, according to financemagnates.com, the people who manage the Capital Hall website are actually a group of Ukrainian scammers who were exposed by police in Kiev late last year.
Fraudsters often use free legislation in offshore territories, such as the Marshall Islands or Saint Vincent and the Grenadines, to register their companies, but quite often operate through third-party payment processing companies in Eastern Europe.