The Malta Financial Services Authority (“MFSA” or “the Authority”) has become aware of false statements issued on social media profiles of Ms Francesca Gauci Bonnici on 23 May 2024, stating that “AKASHX is confirmed in full conformity with the MFSA. This means AKASHX is compliant with any regulations and standards set, ensuring our services are trustworthy, transparent, and legally sound”.

The MFSA wishes to alert the public that Ms Francesca Gauci Bonnici and AKASHX (www.akashx.com) are neither licenced or otherwise authorised under any relevant financial services legislation. The claims being made on social media by Ms Francesca Gauci Bonnici are therefore false, misleading, and inaccurate.

The MFSA would like to remind consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator. Investors should also be extra cautious when being approached with offers of financial services via unconventional channels such as telephone calls or social media.

A list of entities licensed by the MFSA can be viewed on the official website of the MFSA at https://www.mfsa.mt/financial-services-register/. For more information on financial scams please refer to the MFSA scam awareness document to keep yourself informed on red flags which help consumers of financial services to identify such financial scams.