SMH Markets Scam Warning: Clone of an Authorised Firm

SMH Markets is a scheme that reaches people through Facebook adverts made to look like news pages, then takes investments by email and WhatsApp. The Central Bank of Ireland has declared the brand a clone firm, one that copies the details of an authorised company.

🚩 What Does the Clone Firm Warning Say?

On 17 June 2026 the Central Bank of Ireland announced that smh-markets.com has no authorisation to offer investment or crypto-asset services, that it copies the details of an authorised firm, and that it has no connection with the real firm. The Norwegian Finanstilsynet added the warning to its own list two days later. In other words, if a legitimate company with a similar name exists, it has no relationship with this scheme.

In users' accounts the story runs as follows: a fake news advert is clicked, a first deposit is made on the promise of "a refund right within two weeks", and the refund requested the next day is refused. Users also report that payment could not be made to a UK account in the company's name, and that unofficial payment routes were pushed instead.

🔍 Domains, Phone Numbers and Representative Names

🔗 Other Platforms Using the Same Method

Borrowing the identity of an authorised firm to collect investments on a new domain has appeared before. Other platforms where the same scheme was seen:

🧭 The Legal Process

In clone schemes the first step is to establish the payment chain behind sites that copy an institution's identity. Then an asset investigation is carried out through the accounts the money was sent toTR, and the conduct is assessed as qualified fraudTR; Article 158/1-f of the Turkish Penal Code treats the use of computer systems as a tool as an aggravating circumstance.

For detailed information and legal support, you can contact Savun Law & Consultancy.

❓ Frequently Asked Questions