The Bermuda Monetary Authority (BMA) has advised the public that it has located what appears to be a clone firm called Kuva.
A clone firm is one which uses the details of a genuine firm to try to convince investors that they work for that entity when they do not.
The following website – www.kuvaltd.com – promotes an investment firm named ‘Kuva Limited’ and falsely claims it is regulated by the authority.
The BMA said that the public should be aware that this entity is not regulated, authorised or licensed by it and said that there are a number of other false statements made on the website.
The BMA has advised people to take caution when engaging in business through this website. The authority has added this entity to its warning list of unauthorised firms and individuals which can be found on its website.
There is a legitimate, Bermuda-registered entity named Kuva Limited, which operates an authorised investment fund and is correctly listed on the authorised funds section of the authority’s website. It is in no way associated with ‘Kuva Limited’ mentioned above.
Bermuda Monetary Authority, Kuva, Bermuda