U
Up Money Limited
India
Founded in
2014 (12 Years)
Founded
Last online: No recent activity
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Security Information
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This company is currently Unproved.
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License
A Grade License
Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.
B Grade License
Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.
C Grade License
Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.
D Grade License
From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.
Company Information
Get to know Up Money Limited
Company Information
Get to know Up Money Limited
Up Money Limited, also known as Up Money (Pty) Ltd, operated primarily in South Africa, presenting itself as a "stokvel" or investment opportunity. It solicited funds from the public by promising unrealistically high returns (up to R10,000) for a small joining fee (R180). Investigations by the Financial Sector Conduct Authority (FSCA) of South Africa concluded that the company's business model was unsustainable and met the definition of a pyramid scheme, as returns were paid from the contributions of new members rather than from any legitimate business activity. Following these findings, the company's operations were shut down, and its director was fined and debarred.
Industry
- Financial Other ServicePRIMARY
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