Protecting yourself from financial scams is crucial in today's digital age where scams are becoming increasingly common. So, in this online world, Financial Scams can target individuals, businesses, or even governments. Such scams come in various forms like:

Investment Scams,

Crypto Scams,

Lottery Scams,

Tax Scams,

Forex Scams,

Facebook Marketplace Scams,

Broker Scams,

Dating and Romance Scams,

And many other online Financial Scams.

India’s Enforcement Directorate has intensified its probe into a major money laundering case linked to self-styled godman Ashok Kharat, uncovering a massive network of over ₹70 crore in suspicious transactions routed through hundreds of ‘ghost’ bank accounts.

As part of the investigation, notices have been issued to Pratibha Chakanakar and her son Tanmay for questioning over alleged links to these accounts. While Pratibha has denied the allegations, claiming forged signatures were used to open accounts in her name, the probe continues to widen.

Investigators have identified over 134 suspicious proxy accounts, many operated using the same mobile number and often listing Kharat as the nominee. Authorities suspect misuse of KYC documents like Aadhaar and PAN to create these accounts.

Between 2022 and 2024, over ₹70 crore flowed through nearly 100 accounts, with funds being layered across multiple channels to obscure their origin—a classic money laundering tactic.

The case has also raised serious concerns about banking oversight, as such large-scale irregularities went undetected. A key associate has reportedly admitted to depositing cash into these accounts under instructions, further strengthening the case.

With links now extending to Nashik-based cooperative institutions, the ED is expected to expand the probe, trace the money trail, and question more individuals connected to the network.

When new trading platforms pop up, investors often feel both excited and cautious. One such name that has recently surfaced is ZUNKETS IFC, a financial services provider claiming to offer a variety of products including forex, stocks, indices, and commodities. But is it as reliable as it markets itself to be? Let’s break it down.

📅 Registration Date & Background

According to WHOIS data, the domain zunketsifc.com was only registered on January 9, 2025. This makes ZUNKETS IFC a very new platform, lacking operational history and independent user feedback. Interestingly, while the site claims to have operated since 2007, the reality is that it only officially came online in 2025 — a major red flag for credibility.

📊 Trading Varieties

ZUNKETS IFC promotes access to multiple markets:

Forex

Stocks

Indices

Commodities

On the surface, this looks like a well-rounded offering. However, investors should be cautious, as young platforms without transparency often struggle to deliver stable tools and fair trading conditions.

📱 Trading Software

The platform provides:

Zunkets Mobile App for on-the-go trading

Web platform for PC and Mac

While flexibility is appealing, these tools are untested in the wider market. Without extensive feedback, stability and security remain uncertain.

🏢 Company Profile

The website markets ZUNKETS IFC as a “top global broker” with:

Operations “since 2007”

Over 100,000 clients worldwide

Flexible rebates and profit-sharing

But with its domain only registered in 2025 and no external evidence of such growth, these claims are unverifiable.

⚖️ Regulation Information

ZUNKETS IFC states it is regulated by FinCEN (Financial Crimes Enforcement Network) with registration number 31000294262254. However, FinCEN itself warns that registration does not equal endorsement or guarantee of credibility. This means investors should not assume safety based on FinCEN listing alone.

💳 Deposits & Withdrawals

Supported methods include:

Crypto (TRC20, BEP20)

Wire transfers (USD)

Zunkets Card (USD & crypto)

Processing times are listed as “immediate,” but again, no independent verification supports these claims.

💸 Trading Fees

For pairs like EUR/USD and GBP/USD, spreads start at 15 with a $25 commission per lot. These fees are relatively high compared to industry averages, which should concern cost-sensitive traders.

👥 User Reviews & Feedback

The official site displays glowing reviews and mentions “rapid growth,” but without independent sources, these cannot be trusted. External data (via Semrush) shows:

Authority Score: 0

Organic Traffic: None

Paid Traffic: None

This suggests the platform has virtually no visibility outside its own promotions.

📝 Final Thoughts

ZUNKETS IFC presents itself as a strong global broker, but its newness, inconsistent claims, lack of transparency, and limited regulation make it a high-risk platform.

🚫 Key Risks:

Recently established with no proven track record

Misleading claims about operating since 2007

FinCEN registration ≠ regulatory safety

Low visibility and traffic raise doubts about user base

✅ Recommendation:

This firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams.

Almost all firms and individuals must be authorised or registered by us to carry out or promote financial services in the UK.

Unauthorised firm details

Name: Savexa

Mobile: +447822107974

Email: [email protected]

Website: www.savexa.com

Some firms may give incorrect contact details including postal addresses, telephone numbers and email addresses. They may change these contact details over time.

They may also give you details that belong to another business or individual, so the information looks genuine.

What this means for you

If you deal with this firm, you won't have access to the Financial Ombudsman Service if you want to complain.

You also won't be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong. This means it's unlikely you'd get your money back if the firm goes out of business.

If you sent money to a fraudster on or after 7 October 2024, you may be covered by protections introduced by the Payment Systems Regulator (PSR). Find out what to do if you've been tricked into making a payment to a scam account.

How to protect yourself

You should only deal with financial firms that are authorised by us. If a financial firm is authorised by us, it gives you greater protection if things go wrong.

Infinite Beacon Pvt Ltd and Trdez Pvt Ltd, both based in Pune, have been implicated in operating a large-scale Ponzi scheme across various cities in Maharashtra and Goa. Investigations reveal that Infinite Beacon, in collaboration with Trdez—a SEBI-registered stockbroker—has been running unlicensed investment platforms promising guaranteed monthly returns of 10% or more to investors.

The scheme operates by soliciting funds directly into the company’s bank accounts, bypassing regulatory oversight. Investors are enticed with high returns, with the company claiming to manage investments through a purported Portfolio Management Service (PMS) executed via Trdez. However, these operations lack proper registration or licensing, raising significant red flags.

Further scrutiny uncovered that Infinite Beacon created a fictitious website, http://rizeamc.com, to feign legitimacy. This site was established shortly after complaints were filed against them, indicating attempts to mislead investors and authorities.

Alarmingly, despite the company’s dubious operations, many educated professionals have fallen victim to this scheme, driven by the lure of quick profits. The company’s website is currently under migration, which could be a tactic to evade further scrutiny.