Fake Regulator MISA Exposed
In a 2021 disclosure by BehindMLM, it was reported that the purported regulatory authority, Mwali International Services Authority (M.I.S.A.), is inauthentic. The Central Bank of Comoros (website), holding jurisdiction over Mwali, confirmed in a public communication via BehindMLM that M.I.S.A. is a fabricated entity devoid of any regulatory authority. Furthermore, the license purportedly held by GSPartners, also known as Swiss Valorem Bank under M.I.S.A.’s aegis, is illegitimate.
A review of the purported M.I.S.A. websites, https://mwaliregistrar.com and https://mwaliregistrar.org, indicates the listing of numerous companies licensed under various sectors, including insurance, gambling, trust, and brokerage. Analysis by BehindMLM suggests potential collusion between this fictitious regulator and Moheli Corporate Service (website), the latter of which claims to be the sole registration agent for M.I.S.A.
The Central Bank of Comoros, in its formal communication, has declared: “The Mwali International Services Authority Register of Companies is a fabricated entity with no genuine presence within the Union of the Comoros’ jurisdiction. It possesses neither legitimacy nor any lawful foundation or permission to issue licenses for entities functioning in the banking and financial sectors. The sole authority with this mandate across the three islands (Anjouan, Moheli, and Grande Comores) is the Central Bank of Comoros.“
In summation, M.I.S.A. appears to be an intricate regulatory hoax employed by malicious actors to confer upon themselves an illusion of legitimacy. The operators of the fake regulator receive corresponding service and listing fees from the listed entities and make their business with it. In this respect, the MISA logos (left) on the websites of financial providers are the first indication of a potential fake.
It’s imperative to mention that even if M.I.S.A. were a genuine regulator in Mwali, its licensure would not garner recognition within other regulatory frameworks.