Enigma Securities Ltd

Reference number: 930442

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On the register, but not FCA authorised

This firm is registered with the FCA for anti-money-laundering checks only, which is how cryptoasset firms are registered. That is not authorisation: the FCA does not oversee how it treats customers, and FSCS protection does not apply.

What does this mean?
  • Some businesses are required by law to have an anti-money-laundering supervisor. For this kind of business that supervisor is the FCA, and the registration is the only reason the firm appears on the FCA register.
  • What the FCA checks is narrow: that the firm identifies its customers, keeps records, and reports suspicious activity. It is the anti-crime paperwork behind a bank asking you for ID.
  • It does not check anything about you as a customer. Not whether the firm treats you fairly, not whether it is financially sound, not whether what it sells is any good. The FCA describes firms registered this way as “not authorised or subject to wider FCA regulation”.
  • So if the firm fails or treats you badly, there is no compensation to fall back on. The FCA's own position is that crypto is largely unregulated in the UK and that compensation for crypto losses is highly unlikely.

Identity

Check their details

Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.

Company details

From the company's Companies House record.

Company number
11114339
Company status
Active
Company type
Private limited company
Incorporated
15 December 2017 (8 years old)
Registered office
30 Panton Street, London, SW1Y 4AJ, England
Nature of business
  • Financial management (SIC 70221)

Current directors and secretaries

Name Role Born Appointed
Avi Bouhadana Director Dec 1967 15 Dec 2017
Michael Halimi Director Jun 1968 21 Nov 2022

Check on the FCA register → Report a scam →

Activities and protection

What the record covers, and how you are protected

  • Money-laundering registration only
    This firm is registered for anti-money-laundering supervision only. It is not FCA-authorised. Money you hand over is not protected by the FSCS, and the Financial Ombudsman Service generally does not cover unregulated cryptoasset activity.

    Crypto: what the FCA registration means →

Limits on the record

  • VOLUNTARY REQUEST FOR IMPOSITION OF DIRECTION
    This entry sets out the terms of the Directions imposed on the Firm pursuant to Regulation 74C(6)(a) of the MLRs. 1. The Firm may onboard new customers, subject to complying with the following conditions: a. The Firm must submit monthly reports to the Authority commencing one month after the Effective Date containing: i. The number of customers onboarded during that month’s reporting period and their respective risk ratings; and ii. An attestation by the Firm that all regulatory obligations have been met in respect of onboarding those new customers. b. Within 6 months of the Effective Date, the Firm must remediate all deficiencies identified in its financial crime systems and controls, as set out in the Authority’s feedback letter dated 11 March 2025 (the “Feedback Letter”). c. Within 6 months of the Effective Date, the Firm’s Money Laundering Reporting Officer must complete a root cause analysis to determine the cause of the deficiencies identified in the Feedback Letter. d. Within 6 months of the Effective Date, the Firm must complete its current Know-Your-Customer (“KYC”) refresh exercise, including: i. All customers currently undergoing a KYC refresh, or where a KYC refresh is due as per the Firm’s policy, must be completed within 6 months of the Effective Date; and ii. Per the Firm’s Client Onboarding Process Document dated March 2025, any customers who do not provide the requisite information for the KYC refresh in that 6 months will be subject to a trading suspension. If the customer fails to provide the requisite information within a further 3-month period, they will be offboarded. e. Within 6 months of the Effective Date, the Firm will offboard all customers currently subject to an automated trading suspension due to client inactivity, as per the Firm’s Offboarding Policy.
  • VOLUNTARY REQUEST FOR IMPOSITION OF DIRECTION
    This entry sets out the terms of the Directions imposed on the Firm pursuant to Regulation 74C(6)(a) of the MLRs. Restriction on Crypto ATM customers 1. The Firm must not, without the prior written consent of the Authority, onboard any new customer that operates a machine which utilises automated processes to exchange Cryptoassets for Money or Money for Cryptoassets. 2. The Firm must not, without the prior written consent of the Authority, provide any services that fall within the definition of a “cryptoasset exchange provider”, as defined in Regulation 14A(1) of the MLRs, to any existing customer that operates a machine which utilises automated processes to exchange Cryptoassets for Money or Money for Cryptoassets. Definitions In this application: i. “existing customer” means a person (natural or legal) who (prior to the Effective Date) has entered into a business relationship with the Firm for the provision of services that fall within the scope of Regulation 14A(1) of the MLRs; and ii. “new customer” means a person (natural or legal) who is not an existing customer of the Firm.

Track record

FCA actions and complaints

No FCA disciplinary action, and no complaints recorded with the Ombudsman.

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Common questions

Frequently asked questions

Is Enigma Securities Ltd FCA authorised?
Enigma Securities Ltd (FRN 930442) is registered with the FCA under the Money Laundering Regulations only. That is anti-money-laundering supervision, not FCA authorisation, and the FCA does not supervise the firm's conduct.
Is my money safe with Enigma Securities?
Money you hand to Enigma Securities is not protected by the FSCS. Money-laundering registration carries no compensation scheme, and the Financial Ombudsman Service may not be able to consider a complaint about unregulated business.
Is Enigma Securities a scam or clone?
Enigma Securities is genuinely on the FCA's money-laundering register, so it is not an outright fake, but registration is not authorisation, and scammers impersonate registered firms too. Verify contact details against the register before sending money.
What is Enigma Securities's Firm Reference Number (FRN)?
Enigma Securities's FRN is 930442. You can verify it on the FCA register.