FSMA warns about fraudsters who are pretending to exploit victims of investment fraud

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The Financial Services and Markets Authority (FSMA) has issued a warning about an increase in fraud targeting individuals who have become victims of investment fraud. Scammers use the FSMA name and logo to create false impressions of legitimacy to deceive consumers.

This type of fraud, known as Recovery Room scams, includes scammers who claim that they can help victims recover lost money through previous investment scams.

The scammer offers to contact the fraudulent individual and help them recover lost funds. However, in order to proceed with this supposed recovery process, the fraudster will seek advance payments that it claims are necessary for compensation, taxes and even fines paid to the FSMA. These requests are completely false and are part of a fraudulent scheme designed to withdraw money from the victim without providing actual assistance.

In particular, the FSMA has identified one of the companies involved in the scam being named the line of protection. The fraudulent entity claims that by filing a claim with the FSMA, it can help victims regain their lost investment. To further deceive victims, scammers often impersonate the official FSMA communication channel and use their names and logos to make their activities look legal.

Fraudulent Payment Request Warning

It is important for consumers to be cautious when dealing with offers and communications related to recovering lost funds from investment fraud. The FSMA advises the public to recognize that these unauthorized entities do not have any official relationships with the FSMA or legitimate regulatory bodies. FSMA also emphasized that its official website is www.fsma.be, and that individuals should only rely on communication through official FSMA channels.

Consumers are advised not to respond to payment offers or requests that they claim to be associated with the FSMA. The regulator said, “FSMA is not capable of recovering lost investments or requesting payment for such services, nor is it capable of requesting payment of taxes. We must contact investors in this regard. There is no. Consumers provide their financial information and pay for services.”