Review of the Moscow Financial Center: offers for investors, reviews
The Moscow Financial Center consumer cooperative is one of many cooperatives that attracts investors with profitable interest rates, while also operating as mutual aid funds. They are no less popular than high yields. Among these cooperatives, both reputable organizations with a positive reputation and typical fraudsters stand out. Fraudulent organizations spare no expense on advertising, paid reviews, and overviews. A bright example of this is mosfincentr.ru. It is necessary to understand how clients are deceived in the Moscow Financial Center consumer cooperative and who is at risk.
Analysis of the Legitimacy of MFC Activities: The Essence of the Problem
The Moscow Financial Center is filled with a variety of certificates, like winner badges after a great campaign. However, these documents should not be trusted. Such papers are widely used by shadow beauty centers to improve their image in the eyes of potential clients.
According to official information, MFC started its activities in 2011, but domain registration data contradicts this statement. According to the mosfincentr.ru website, it has only been operating for 2 years:
The project organizers presented information from the Unified State Register of Legal Entities, TIN, certificates of membership in SRO and MOVS. However, it is surprising that the extract from the Unified State Register of Legal Entities is dated 2018, not 2011 as would be logically expected. It turns out that MFC only appeared then, previously the cooperative was called the Moscow-Kursk Center. Why the organization concealed this information remains a mystery.
The statement about the regulation of MFC activities by the Central Bank of the Russian Federation is not true. According to the law, cooperatives do not fall under the jurisdiction of this supervisory authority. In case of disputes, the Central Bank of Russia is not obligated to intervene to protect the interests of depositors. It has no supervisory rights over consumer cooperatives.
MFC scammers constantly play with the interest rate. At different times, it varied from 11.65% to 8.5% at the time of our research. However, fraudsters violate the law that prohibits consumer cooperatives from offering yields exceeding the Central Bank’s key rate. Currently, this value is fixed at 4.25%, meaning the cooperative is not allowed to promise a yield of up to 8.5%. This attractive offer is also confirmed by real client reviews.
Although MFC is indeed registered with SRO Moscow Financial Center, this happened only in the summer of 2020. The amount reported for compensation to MFC depositors in the self-regulatory organization will not be enough to compensate all cooperative clients. These funds are negligible compared to the amount of investments attracted by the cooperative.
MOVS also has its complications. Loss compensation is only paid in the event of the bankruptcy of the consumer cooperative, officially recognized by the arbitration court. The rules do not mention compensation for losses in the event of theft or intentional liquidation of the organization.
Review of MFC Commercial Offers
As of now, the Moscow Financial Center consumer cooperative offers 3 savings programs. According to reviews, scammers target elderly people who are easier to deceive.
Let’s review the programs:
- Pension. Declared profitability – up to 8.5%. Minimum deposit is 1000 rubles. In case of early termination, the rate is 0.1% (without loss of interest, up to 25% of the deposit amount can be withdrawn),
- Accumulative. The conditions do not significantly differ from the previous program. The only difference is the lack of the possibility of partial withdrawal of funds,
- Investment. Practically a repetition of the “Accumulative” program. MFC did not explain what differences and why they decided to duplicate the contract, coming up with a new name.
The actual interest rates offered by the company are current at the moment, but at the start of the scam, much higher rates were promised – up to 25-30% annually. Where did this money come from?
Customer Reviews of MFC from Moscow Financial Center Consumer Cooperative
The MFC website features many reviews, all of which are highly positive without exception. The company also recommends specific reviewers whose opinions of real clients can be accessed:
The company maintains active accounts on social networks, but publishes reviews directly in the feed. Comments on posts are missing, and the reviews section, where users can express their opinions, is empty:
Users note that the Moscow Financial Center tries to sweep negativity under the rug, but does not always succeed:
Analysis of MFC Deceptive Schemes
The Moscow Financial Center conducts an active advertising campaign, intercepts the phones of potential victims, and later does not leave them alone. Here, they promise favorable cooperation and may even pay for a taxi to their office to sign a contract.
We also found a job listing looking for a ready team for cold calls or a regular manager. This is a typical situation of recruiting staff from other fraudulent structures on more favorable terms.
On March 12, 2021, we received a letter from MFC containing the following information:
Our colleagues at the rating-market resource received a similar letter, but it was about another fraudulent organization – “Leningrad Financial Center Consumer Cooperative”.
The designs of the MFC and LFC websites are almost identical, created from a common template. In addition, the letters we received from MFC and LFC are identical. This suggests that MFC and LFC have the same owner who sent us the letters. The question arises: why would an honest company have two brands?
We addressed this question to a representative of MFC.
Response:
Yes, we trust you ))
Friendly companies with common staff – impossible! They are trying to deceive us!
The company proudly claims to have been in operation since 2011, but we found out that since 2018, the company has been managed by different individuals. So, why does an honest company state on the main page of its website about its more than 10 years of experience? When the real experience is only 3 years. This is another trick from scammers trying to pull the wool over our eyes!!!
We are 100% convinced that companies like MFC and LFC are one and the same, and the goal here is only one! To take people’s money under various pretexts!!!
The correspondence continues:
Pyramids and network companies (some of them really respectable) usually use the potential of already zombified collectives.
We have another weighty argument against MFC.
Be wary when communicating with MFC.
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Summary of Analysis
If MFC gets your data, be on guard. Scammers will drive you to despair with their calls and will not retreat into the shadows until they achieve their goal. It’s difficult for them to find equals in attracting potential victims. The shark didn’t even aim to work in the legal field, as they had other plans – to fleece gullible users to the bone. They spare no expense for paid reviews and praises.