Financial authority warns against crypto-currency investment scams

Financial authority warns against crypto-currency investment scams
© Belga

The Financial Services and Markets Authority, FSMA, warned on Monday against platforms proposing investments in crypto-currencies and said it had drawn up a list of about 40 platforms suspected of fraud. The FSMA explained that these operators claim to offer the best trading platforms, enabling anyone, from beginners to professionals, to trade in crypto-currencies instantaneously and in all confidence. Some also propose other financial products supported by crypto-currencies such as savings accounts with supposedly guaranteed earnings and management mandates.

Consumers who invested in such scams complained that they never recovered the money they deposited or that they simply heard nothing more from the companies concerned after they invested their money.

Would-be investors can consult the FSMA’s list before making any investment. This list is based solely on the authority’s own monitoring and therefore does not include all potential fraudsters active in the sector.

The Brussels Times

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