The Financial Services and Markets Authority (FSMA) has issued a stern warning to the public about the proliferation of fraudulent trading platforms that lure investors with promises of “quick and easy” returns. The FSMA has published a list of these suspicious platforms on its website, urging the public to avoid any engagement with them.
According to the FSMA, these deceptive platforms are rife on the internet, preying on investors with enticing offers of high returns in a short period. However, these promises often mask sophisticated scams that can result in significant financial losses.
The FSMA has identified various methods used by fraudsters to reach potential victims. These include fake news articles featuring celebrities, online advertisements, and fraudulent social media accounts. The scammers also employ communication channels like WhatsApp and text messages to deceive individuals into investing.
These platforms typically attract investors by offering seemingly lucrative opportunities. They encourage potential victims to sign up and deposit funds into their trading accounts, often starting with a small amount. In some cases, scammers even take control of the victim’s computer remotely to install viruses and spyware, further facilitating the fraud.
Once the initial deposit is made, the fraudulent platform may display fictitious earnings to convince victims of the investment’s profitability. Scammers then pressure individuals to invest more money, using tactics such as repeated phone calls, limited-time offers, or threats. Eventually, these platforms make it impossible for users to withdraw their supposed earnings, leading to a complete loss of the invested funds when the platform vanishes.
The FSMA advises anyone who suspects they have been targeted by a fraudulent trading scheme to immediately cease all transactions and sever ties with the platform. Victims should report the fraud to their bank and relevant authorities as soon as possible. Collecting and preserving all evidence of communication with the scam platform is crucial for reporting and investigation purposes.
Furthermore, the FSMA warns about “recovery rooms,” where scammers attempt to exploit victims further by offering to help recover lost money for a fee. It is essential to be cautious of these schemes, as they often represent another layer of fraud.
The FSMA’s alert underscores the need for vigilance when engaging in online trading and investment opportunities. Investors are advised to conduct thorough research and consult reliable sources before committing any funds. For more information and to view the list of suspicious platforms, visit the FSMA’s official website at fsma.be.
