What does virtual currency MFC mean

MFC has been identified as MLM by the Chinese police and the New Zealand monetary authority

on the reasons for the warning, the FMA said it was concerned about a Malaysian customer loyalty program being promoted by MBI International (also operating under the name of MFC Club) (MFC Club) in New Zealand. The financial market authority has received a report that MFC club is actively carrying out promotional activities in Auckland's Chinese community

the Monetary Market Authority understands that MFC club is promoting through seminars and promotional meetings, and has received reports that statements about MFC club may be unsubstantiated and / or false and misleading, including claims that MFC club is an investment and that the value of any investment will double every year. The FMA noted that the scheme is not a regulated proct in New Zealand and advised caution when dealing with MFC club

in addition, the FMA said that they also noted that the National Bank of Malaysia (BNM) has included MBI international Sdn Bhd and m face international Sdn BDN in its financial consumer alert list, which includes companies and websites that are not authorized or approved by relevant laws and BNM regulations

on May 31, 2018, the Economic Investigation Bureau of the Ministry of public security revealed seven types of pyramid schemes traps to remind the public to be vigilant. Among them, virtual currency, consumer rebate, wechat mobile game and financial mutual aid are related to the Internet, and the other three traditional types of MLM, namely, proct prop, capital operation and charity mutual aid, can not be ignored

in November 2017, Shanghai municipal public security organs, together with other public security organs across the country, cracked the case of "MBI" international group suspected of organizing and leading pyramid schemes. It is understood that in 2015, Wang, a suspect, was registered online and joined the "MBI" (group headquarters in Malaysia).

"MBI" has set up "MFC game financing platform" on the Internet under the guise of "game financing plan" to turn its "barter currency" (also known as GRC and M currency) into "virtual currency"“ MBI makes the "barter currency" circulate through online shopping mall and offline business transactions, and then publicizes the lies of "virtual currency" only rising but not falling by holding propaganda meetings and other forms

according to the introction, where the "MFC game token financing" went, many victims' hard-earned money for many years was swept away, and many family members turned against each other and friends became enemies

the real reason for the geometric multiple growth of participants is the "dynamic income", that is, the reward for developing offline. Like most pyramid schemes, "MBI" has also set up "direct promotion Award", "confrontation Award" and "algebra Award". According to the number of development lines and the amount of investment, they are presented in the form of tokens. The participants form a huge pyramid network, and the essence of its operation is the Ponzi scheme of "eat first and then"

in a video provided by the police, the suspect Xu said that this is a "zero sum game", investors are looking at the rate of return, in fact, the company is looking at the capital of investors. According to the police, MLM can not be replaced without the three characteristics of paying entry fees, developing offline, and getting paid through direct or indirect development offline. We need to be alert to two new types of MLM, namely wechat mobile games and financial mutual assistance

it is understood that MLM like "spark prairie" and "magic farm" are bound together with the publicity of "Internet finance" and "game finance" by means of wechat, mobile travel and other simple and convenient ways to create a "fastest spreading" wechat mobile travel MLM. MLM organizers falsely claim that they can get rich while playing games. The biggest feature is that the entry threshold is low. Players join the game sequence by scanning the QR code, forming the relationship between the upper and lower lines, and spreading faster

"integrity trading treasure" such as financial mutual MLM, known as the "capital plate" of the network world, known as building a mutual win-win platform. Participants must give up first and get later. Only by self-help matching on the platform and providing financial help for others, can they obtain the qualification of being helped by others. The design of financial mutual aid MLM focuses on capital, plays the capital game and money stimulation, so that more participants can not break the situation, which is a more confusing MLM mode

one day in March this year, the internet police brigade of Tengzhou Public Security Bureau in Shandong Province found that a Biotechnology Co., Ltd. was suspected of engaging in pyramid selling. The person in charge of the company develops members by "buying hundreds of yuan of daily necessities and skin care procts". Members form a pyramid like hierarchical structure on the company's website according to the recommended relationship. Marketing systems such as layer award and quantity award are formulated. The number of members developing offline is used as the basis for remuneration and rebate to lure participants to develop offline

according to the introction of Tengzhou public security network police brigade, the marketing means of the organization involved in communication can get a free ride on the Internet. Contact the factory through the network to proce a brand of daily necessities and skin care procts, exaggerate the efficacy, set the sales price at 5-10 times of the purchase price, instill the dream of making a fortune to the members through wechat chat and field lectures, and publicize the bonus system. At present, the case is still under investigation

relevant people from the Economic Investigation Bureau of the Ministry of Public Security said that the traditional pyramid selling of procts and props should not be ignored. For example, the infamous "butterfly bud" pyramid marketing case took procts as a gimmick and developed offline in the name of selling skin care procts, health care procts and daily necessities

there are some similarities between the consumption rebate type of MLM and the traditional proct prop type of MLM, but they are more hidden. This kind of MLM activities, represented by "xinfutu", under the banner of e-commerce or micro commerce, rely on the online mall, use a small amount of goods as props, and use "consumption rebate" and "value-added consumption" as t to lure members to join. The seemingly beautiful "sharing economy" is actually all deceptive

MFC has been identified as MLM by the Chinese police, and the relevant news reports are as follows:

in November 2017, Shanghai public security organs, together with many public security organs across the country, cracked the case of "MBI" international group suspected of organizing and leading MLM

it is understood that in 2015, Wang, a suspect, was registered online and joined "MBI" (group headquarters in Malaysia). Under the guise of "game financing plan", MBI has set up "MFC game financing platform" on the Internet, making its "barter currency" (also known as GRC and M currency) into "virtual currency"

"MBI" circulates the "barter currency" through online shopping mall and offline business transactions, and then publicizes the lies of "virtual currency" only rising but not falling through publicity meetings

according to the introction, where the "MFC game token financing" went, many victims' hard-earned money for many years was swept away, and many family members turned against each other and friends became enemies. The real reason for the geometric multiple growth of participants lies in the "dynamic income", that is, the reward for development offline

like most pyramid schemes, "MBI" has also set up "direct promotion Award", "confrontation Award" and "algebra Award", which are presented in the form of token according to the number of development lines and the amount of investment. The participants form a huge pyramid network, and its operation essence is "eat first, then" Ponzi scheme

in a video provided by the police, the suspect Xu said that this is a "zero sum game", investors are looking at the rate of return, in fact, the company is looking at the investor's principal. p>

according to the police, MLM can not be replaced without the three characteristics of paying entry fees, developing offline, and getting paid through direct or indirect development offline. We need to be alert to two new types of MLM, namely wechat mobile games and financial mutual assistance

extended materials:

in recent years, a so-called "only up but not down" MFC game token financing platform has spread wildly all over the country, the cheated people have poured out their savings under the temptation of high returns, and the cheated participants have also developed from middle-aged and elderly people to school students

MFC game token financing platform is to make its "barter" (also known as GRC, m coin) into "virtual currency", through online shopping mall, offline business transactions and other ways, to make "barter" circulate, and publicize the lies of investing in "virtual currency" only rising but not falling

the MFC game token financial management platform has set up a high exit threshold and transaction conditions for drawing Commission, which makes it difficult for the public to withdraw cash, but also to continuously re invest and pull people's heads to delay the collapse

the Hantai Branch of instry and Commerce reminds that the behavior of "MFC financial management platform" is extremely destructive to the society. The masses should be vigilant, don't believe in the myth of breaking the economic law, consciously stay away from and resist the network pyramid selling. The reporting telephone number is as follows:

Hantai Branch of instry and Commerce: 2601009; Xinghan Road Instrial and commercial office: 2212120; Jiangtan Road Instrial and commercial office: 2514022; West Ring Road Instrial and commercial office: 2621324; Laodong West Road Instrial and commercial office: 2253236; Qianjin Road Instrial and commercial office: 2246635; Puzhen instrial and commercial office: 2577338; Shujiaying instrial and commercial office: 2169252; Hedongdian instrial and commercial office: 2296228; Wuxiang instrial and commercial office: 2488348

China market supervision daily - Economic Investigation Bureau of the Ministry of public security exposes seven types of pyramid schemes

Sanqin Metropolis Daily - pyramid schemes far away from the "MFC" financial platform

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