Crypto Scams Goes On to Spark the Interest of Belgium's FSMA

The regulator has today warned the public once more about the many risks associated with these lucrative unregulated investments. FSMA has again updated its list of phony Crypto trading platforms, putting 28 names to the list.   

See the latest additions below:   

Some of the phony entities employ tactics which have been adopted by binary options scammers. Among the tactics is to invectively abuse the names of a high profile financial services firms. Perchance you can notice and recognize the scam abusing the name of the London Stock Exchange.   

Entities Use the Same Ruse   

In February 2018, the FSMA began publishing its " blacklist" of Crypto platforms. Back that time, FSMA elaborated that all such entities apply similar guile trick: they claim to provide the best trading platforms, allowing both beginners and expert professionals to trade in Cryptos just in seconds with utmost confidence. In addition, some of these exchange platforms provide other financial products with Cryptos as their basic underlying. 

Not more than a month after Belgium, France also began composing such a 'blacklist.' The diversity of such scams has been more significant. For example, in June 2018, France's AMF issued a warning about an individual identifying himself as Stéphane Delaplace claiming to be a worker at the AMF and also claiming to be carrying out an investigation into a trading platform functioning through www.union-crypto.com. Fortunately, the regulator said that it has no worker known as Stéphane Delaplace. However, the trading platform in question isn't permitted to offer services to any French residents. The AMF did everything possible and sent the gathered information associated with this issue to the public prosecutor's office.