Belgium Cryptocurrency scam!
December 19, 2018 6:41 am,
Belgium’s Financial Services and Markets Authority (FSMA) has earlier announced that the latest additions to its lists of suspicious cryptocurrency related websites that show signs of fraudulent activities.
As doggy crypto dealers continue to flock the crypto space, the financial watchdog has warned the Belgians against involving themselves with crypto websites that may be out to defraud them.
The crypto websites include cashlesspaygroup.com, finance.com, conseil-premium.com, cryptomonaies.com, direct-ep.com, epargnecapital.com, gbe-capital.com, moneo-invest.com, and phoenix-gm.com.
This year, authorities in the country have been trying to keep up to date with the happenings in the cryptocurrency space in a move to protect their citizenry from falling into the cruel hands of the scammers. Apart from the 14 crypto websites, the Belgian financial watchdog has outlined, it had in early this year asked the Belgians to do a thorough background check before investing in any cryptocurrency.
The Belgian regulator would like to note that the list of cryptocurrency trading platforms is based solely on the findings of FSMA, in particular, the result of consumers reports. As such, the loss does not include all the companies which might be operating unlawfully in the country in that sector.
FSMA started publishing its blacklist of cryptocurrency platforms in February 2018. Back then, the regulator explained that all such entities use the same approaches: they claim to offer the best trading platforms, enabling both beginners and professionals to trade in cryptocurrencies in a matter of second. Also, some of these platforms offer other financial products with cryptocurrencies as their underlying: savings accounts with supposedly guaranteed returns, servicing rights or derivative products such as CFD’s.’
Less than a month after this country, France also started compiling such as a blacklist. The variety of scams has been significant. In this June, for instance, France’s AMF published a warning about an individual presenting himself as Stephane Delaplace who claims to be working at the AMF and to be investigating a trading platform operating via union-crypto.com. The regulator noted that it has no employee called Stephane Delaplace. Furthermore, the trading platform in question is not approved to provide services to French residents. The AMF sent the information associated with this case to the prosecutor’s office.
“The principle remains the same, they offer you an investment they claim is secure, easy and very lucrative. They try to inspire self-assurance by assuring you that you don’t need to be an expert in cryptocurrencies in order to invest in them”, as stated by the FSMA.