Online Investment Platform
Is IAMLProfit Fake or Real?
Why Is IAMLProfit Fake?
Investment and Asset Management Limited (IAMLProfit) is a website that claims to be a platform that generates profits through currency trading. The returns being promised look extremely fake, for example, 205% in 24 hours. Such profits are not possible through legitimate investments, which suggests that IAMLProfit may be a scam.
A domain name lookup of the website shows that it was registered on 26th November 2019. The registrant’s details such as name, location and contact details have not been provided.
Even though the website is less than a year old, the footer states that it has been active since 2018. This is clearly a lie.
The website also claims that there are 2,481,101 members on the platform. As the website is only 351 days old, this would mean that they are adding 7,067 members per day. This is hard to believe and most likely a lie.
IAMLProfit has a referral program where they give a 7% commission on the deposits of referrals. This is another sign that IAMLProfit may be a Ponzi scheme.
IAMLProfit tries to portray itself as legit as it is registered in the UK. Obtaining a UK registration costs around £13 and there is no verification of the company. To provide financial services, a company must be registered with the Financial Conduct Authority (FCA). IAMLProfit has no such registration.
IAMLProfit is registered as a ‘business support service’ provider under two Italian nationals named Rocco Digilio and Silvia Leggi.
IAMLProfit’s website does not list any social media pages. However, I found that the company has a Twitter profile. It was created in December 2019, which once again shows that IAMLProfit has not been operating since 2018.
The contact details given on the website are an email ID, phone number and address. All the contact details seem to be fake. The email ID was found to be not working, the address is incomplete and the phone number seems to be fake. Therefore, the only way to contact IAMLProfit is through the live chat option on the website.
There are a few reviews available for IAMLProfit on TrustPilot and Scamadviser, most of which allege that it is a scam. The reviewers have said that the company stopped responding to them after they purchased a plan. There are some positive reviews too, but these seem to be written by the company itself.
It seems quite obvious that IAMLProfit is a scam. The website promises absurd returns such as 205% in 24 hours that are impossible in legitimate investments. There is also a 7% commission on deposits of referrals, which is a strong sign of a Ponzi scheme.
The website was registered in November 2019, but the website says that it has been active since 2018. Similarly, the website says that it has 2.48 million members even though it is less than a year old. Therefore, both these things are lies.
The company is registered in the UK as a ‘business support service’ provider and not a financial company. It is also not registered with the FCA, which means it is not authorized to carry out investments.
All the contact details provided on the website are fake and there are no names of team members given. Reviews of IAMLProfit state that the company stops responding as soon as you purchase a plan. It is advisable to avoid investing in IAMLProfit, as it is quite clearly a scam.
To read about other Investment Scams, click here.
Remember: If something seems too good to be true, it probably is.
If you have been a victim of an investment scam, you can take the following steps:
- File a complaint with the payment portal. However, investment scammers mostly use methods such as Bitcoin, Western Union, MoneyGram and other untraceable methods which make refunds impossible.
- File a formal police complaint with the Cybercrime department.
- Leave a negative review on review portals such as Scamadviser and TrustPilot
- Report the website to Google using the Suspicious Site Reporter extension for Chrome
- Give a low rating to the website on Web of Trust. You can also install their extension for the same.
- If the company has a listing on Google My Business or Google Maps, file a complaint using the Business Redressal Complaint Form. Also, leave a negative review explaining what kind of experience you had.
Disclaimer: The views expressed in this article are presented as an educated opinion based on facts and evidence. There is no malicious intent or attempt to defame any individual/s or organization/s. If you are a website owner and would like to provide clarifications regarding your business and/or website, please get in touch using the Contact Form.