Overview of the Fraud Warning
The Financial Supervisory Authority (FSA) of Finland has placed Be Club, also known as Better Experience, and its associated entity DeepSage on its list of unauthorized service providers. This warning, issued on March 27, 2026, raises significant concerns regarding the legitimacy of these companies within the multi-level marketing (MLM) landscape.
Background on Be Club and DeepSage
Be Club operates as a multi-level marketing pyramid scheme that promotes DeepSage, an AI-based product. Both companies are said to be managed from Dubai by co-founders Monir, Moynul (often referred to as Moyn), and Ehsaan Islam. Notably, Monir and Moynul have a history as promoters of OneCoin, a notorious Ponzi scheme.
Previous Warnings and Regulatory Actions
The FSA's recent warning is not an isolated incident. Prior to this, the FSA had issued a warning regarding SageMaster, another investment scheme linked to Be Club, in November 2025. This trend indicates ongoing scrutiny of Be Club and its related ventures.
Global Regulatory Concerns
Be Club has faced regulatory actions beyond Finland. Authorities in various jurisdictions have issued warnings about the company, including:
- Quebec (2020)
- Colombia (2022)
- Norway (2023 and 2026)
- Uruguay (2023)
- The Philippines (2023)
- New Zealand (2024)
- Ontario (2025)
- Luxembourg (2025)
- Austria (2025)
This pattern of regulatory scrutiny reflects a growing concern about the operational practices of Be Club and similar entities in the MLM sector.
Traffic and Market Reach
As of February 2026, Be Club's website attracted approximately 10,500 monthly visits, with significant traffic originating from Italy (63%), India (7%), Germany (7%), Colombia (7%), and Vietnam (6%). Comparatively, the standalone SageMaster website received about 10,000 monthly visits, primarily from Italy (66%) and Germany (12%).
Response from Company Leadership
In January 2025, co-founder Moynul Islam attempted to mitigate the impact of these regulatory warnings by suggesting that it is common for companies to receive warnings and fines in the business landscape. This statement, however, raises questions about the ethical practices of Be Club and the transparency of its operations.
Conclusion and Industry Implications
The FSA's warning regarding Be Club and DeepSage highlights the ongoing challenges faced by the MLM industry in terms of regulation and consumer protection. As more countries take action against these types of business models, it is crucial for potential investors and participants to exercise due diligence and remain informed about the legitimacy of the opportunities they pursue.
