Inspection Reason

The inspection team recently received reports from a number of investors, who gave the feedback that the company ANCFX’s official website could not be opened. To help identify suspected bogus entities, the inspection team decided to go to Australia to visit this ANCFX. What’s worth noting is that the firm has been rated poorly by the inspection team’s system. The company, with full name “ANC WEALTH PTY LTD” and webiste www.ancmarkets.com, is labelled as a “black platform” that misappropriates other’s license and uses pirate software. 

Office

According to the company’s purported address, ANCFX is located at Suite 5 Level 1, 441 St Kilda Road, Melbourne, Australia. The inspection team sent its survey staff there. 

With the help of navigation, the surveyors successfully found this office building decorated in warm colours.

Survey Highlights

As soon as the surveyors entered the lobby, they noticed a floor guide next to the elevator showing that a company named “Australian National Consulting” was operating here. (Following are thoughts after the survey.) Was the target of this survey, “ANCFX” or “ANC WEALTH PTY LTD”, correlated to this company? Well, according to general information, Australian National Consulting is an established company and deemed reliable within the industry. If ANCFX or ANC WEALTH PTY LTD was a fake company trying to imitate a legit entity, big chances are this is it. However, a search on Australian National Consulting’s website reveals that it does have an associated company called ANC WEALTH PTY LTD, the two pertaining to the same group of companies. And this ANC WEALTH PTY LTD’s Australian ASIC licence number matches the one claimed by the firm in question. So here comes the confusion: is there any fake company that could have “stolen” both the name and the license number from the true one? This does not seem to have happened before. Generally, a fake company just takes a similar name to the real company, or misuses the license of the real one, rather than use an exactly same name, as this seems not feasible. 

The surveyors came to its office, where the glass door had the logos of “Australian National Consulting”, “ANC Wealth” and “ANC Finance” pasted on it. Still can’t judge whether this is the office of the intended target.   

Conclusion

A field survey to the ANCFX’s purported address found the established legit company Australian National Consulting. Due to unanswered contradictory facts and in the rule of prudence, we cannot decide whether the two are one same company.Investors are suggested to use caution when dealing with the company.