Beware of fraudulent online trading platforms, warns the FSMA

Belgium’s financial market watchdog, the FSMA, has received complaints from consumers about new fraudulent online trading platforms, it said in a statement on Wednesday. Advertisements purporting to promote these services often feature a well-known person presenting a get-rich-quick scheme.

After clicking on the advertisement or downloading the mobile application and providing their contact details, the victims generally quickly receive a phone call from the scammers who present them with a concrete investment proposal (in shares, in alternative investment products, in virtual currencies, etc.)“, explains the FSMA.

These platforms act very aggressively

These platforms act very aggressively. Criminals go so far as to try to convince victims to let them take remote control of their computer so that they can make certain transfers.

Malefactors attempt to persuade victims to pay ever larger sums, claiming that an additional payment is required to release their funds. This is a technique to extract even more money from them, warns the FSMA.

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