Belgium’s Financial Services and Markets Authority crypto trading platforms blacklist now contain 113 sites

Wilfred Michael 

Wilfred Michael

Reporter

19 December 2018,
23:14
Belgium’s Financial Services and Markets Authority crypto trading platforms blacklist now contain 113 sites

As is the case in most developed countries, the number of fraudulent crypto-related activities in Belgium have continued to increase in recent times.

On Tuesday, Belgium’s Financial Services and Markets Authority (FSMA) added 14 websites to its blacklist of scam crypto sites, bringing the total number of website addresses on the list to 113:

  • www.ajassetmanagement.com
  • www.cabinet-finsbury.com
  • www.capital-coventry.com
  • www.capital-secure.com
  • www.capitalmarketing-internationalltd.com
  • www.cashlesspaygroup.com
  • www.cobber-finance.com
  • www.conseil-premium.com
  • www.cryptomonaies.com
  • www.direct-ep.com
  • www.epargnecapital.com
  •  www.gbe-capital.com
  • www.moneo-invest.com
  • www.phoenix-gm.com

The regulatory agency went ahead to say that there may still be fraudulent sites that are not on the list yet and implored members of the public who know notices any suspicious activity to report to them.

Commenting on the strategy used by fraudsters to deceive investors, the release acknowledged that not so much has changed.

The perpetrators still offer people allegedly secure, easy and lucrative investment opportunity while also promising to provide experts who will manage the invested funds. Unsuspecting individuals are further swayed by the lie that they can withdraw their funds at any time but only realize they've been deceived when they are unable to recover their money.

Belgium's Financial Services and Markets Authority (FSMA) once again referred citizens to an educational piece that they released to the public in October to expose some tricks used by crypto fraudsters and urged everyone to be vigilant.

We also reported a similar case this week in Italy where Securities regulators labeled two schemes - Bitsurge and Green Energy Certificates - as scams and suspended the projects which belong to Avalon Life for 90 days.

The U.S SEC has also not been left out in the global regulatory match against fraudulent crypto scams and most recently fined AriseBank executives up to $2.5m for conducting an illegal ICO.

In November, the SEC also charged celebrities Floyd Mayweather and Dj Khaled for collecting money from the founders of an illegal ICOs to promote the project tokens on their social media handles.

 

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