The Securities and Futures Commission (SFC) of Hong Kong today warned the public of suspicious investment products involving policies and gaming packages offered and marketed by ProCap International and its related entities.
ProCap claimed on its website (https://www.procap.insure) that these investment products provide insurance coverage of investment capital. The SFC notes that these products offer investors very high guaranteed returns at a rate ranging from 6% to 42% per month when investors engage in prediction games, together with other benefits including referral incentives.
Hong Kong investors may have been the target of these investment products promoted by ProCap and none of them have been authorised by the SFC for offering to the Hong Kong public. The SFC also notes that Hong Kong public could access information regarding these products via the internet.
As a result, the SFC added these investment products and their related information on the SFC’s Suspicious Investment Products Alert List on 8 April 2024.
On this note, the SFC cautions the public against investing in any non-SFC authorised investment products. Since these products are not authorised by the SFC, investors have very limited or no protection and may lose all their investments. The SFC also reminds the public to be cautious about “too-good-to-be-true” investment opportunities and stay vigilant when making investment decisions.
The SFC will take all appropriate actions where there is any breach of the law.
