Scammers have found a new way to
deceive unsuspecting consumers by impersonating major banks despite repeated
warnings dating back to 2021, the Financial Services and Markets Authority
(FSMA) announced, adding that this type of fraud is on the rise.
These criminals use different tactics,
such as contacting potential victims through phone or email, often after they
share their contact details via social media or sponsored ads. The culprits promise
their victims significant profits and capital protection through appealing
savings plans, the FSMA said in a statement published today (Monday).
The Belgian regulator said it had
recently received numerous reports of scammers operating under the identity of
well-known financial institutions, including BGL BNP Paribas Fortis, Bunq,
Fineco, Revolut-épargne, Triodos, and the London Stock Exchange.
These impostors use email addresses
that resemble those of legitimate banks to conceal their deceit, such as:
- BGL BNP Paribas Fortis, using email
addresses ending with “@bglgestionprivee.com.”
- Bunq, who employed email addresses
ending with “@epargnebunq.com.”.
- Fineco, resorting to email addresses
ending with “@fib-gestion.com” and “bfigestion.com”.
- Revolut-épargne, using email addresses
concluding with “@revolut-epargne.com”.
- Triodos, with email addresses ending
in “@triodos-europe.com” and “@triodos-finance.com”.
- London Stock Exchange, who cunningly
used email addresses finishing with “@lse-gestion.com” and had a
website at “www2.lse-private.com”.
These scammers don’t limit themselves
to masquerading as banks. According to the FSMA, they may also use the same
technique to offer various other banking services, including credit. Regarding
credit offers, the scammers demand fees under the guise of processing the
credit application.
FSMA Bolsters Regulatory Scrutiny
Similarly, the FSMA raised red flags
concerning 38 online trading
Online Trading
Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone
Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone
Read this Term platforms offering unlicensed services within the
country in June. This list of unscrupulous operators includes entities engaged
in foreign exchange, contracts for differences, and cryptocurrency trading.
The
FSMA recently introduced a new regulatory framework to monitor advertisements
targeting crypto users in Belgium. The new regulation
Regulation
Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority (
Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority (
Read this Term mandates companies
planning to promote crypto-related services to provide the regulator with a 10-day
notice before the advertisement is published on various media platforms,
including social media, billboards, and websites, among other provisions.
Scammers have found a new way to
deceive unsuspecting consumers by impersonating major banks despite repeated
warnings dating back to 2021, the Financial Services and Markets Authority
(FSMA) announced, adding that this type of fraud is on the rise.
These criminals use different tactics,
such as contacting potential victims through phone or email, often after they
share their contact details via social media or sponsored ads. The culprits promise
their victims significant profits and capital protection through appealing
savings plans, the FSMA said in a statement published today (Monday).
The Belgian regulator said it had
recently received numerous reports of scammers operating under the identity of
well-known financial institutions, including BGL BNP Paribas Fortis, Bunq,
Fineco, Revolut-épargne, Triodos, and the London Stock Exchange.
These impostors use email addresses
that resemble those of legitimate banks to conceal their deceit, such as:
- BGL BNP Paribas Fortis, using email
addresses ending with “@bglgestionprivee.com.”
- Bunq, who employed email addresses
ending with “@epargnebunq.com.”.
- Fineco, resorting to email addresses
ending with “@fib-gestion.com” and “bfigestion.com”.
- Revolut-épargne, using email addresses
concluding with “@revolut-epargne.com”.
- Triodos, with email addresses ending
in “@triodos-europe.com” and “@triodos-finance.com”.
- London Stock Exchange, who cunningly
used email addresses finishing with “@lse-gestion.com” and had a
website at “www2.lse-private.com”.
These scammers don’t limit themselves
to masquerading as banks. According to the FSMA, they may also use the same
technique to offer various other banking services, including credit. Regarding
credit offers, the scammers demand fees under the guise of processing the
credit application.
FSMA Bolsters Regulatory Scrutiny
Similarly, the FSMA raised red flags
concerning 38 online trading
Online Trading
Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone
Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone
Read this Term platforms offering unlicensed services within the
country in June. This list of unscrupulous operators includes entities engaged
in foreign exchange, contracts for differences, and cryptocurrency trading.
The
FSMA recently introduced a new regulatory framework to monitor advertisements
targeting crypto users in Belgium. The new regulation
Regulation
Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority (
Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority (
Read this Term mandates companies
planning to promote crypto-related services to provide the regulator with a 10-day
notice before the advertisement is published on various media platforms,
including social media, billboards, and websites, among other provisions.