Fraudsters Reach New Depths, Conjuring up Fake Monetary Authority

The Financial Services and Markets Authority (FSMA) has issued a warning to the public against the activities of the fictitious

FSMA_The Financial Services and Markets Authority (FSMA) has issued a warning to the public against the activities of the fictitious monetary authority, the European Commodities Commission (ECC), according to an FSMA statement.

Warnings such as this are commonplace for clones of binary or FX providers, though seldom reserved for the fabrication of regulators. Back in August, the FSMA issued a public warning against the unauthorized activity of nine forex and binary options providers, including Tradmaker, Bank Of Market, Time Binary, Aston Markets, Aston Forex, Ebinaires, KD Markets and Tradaxa, having failed to comply with Belgian regulation.

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The European Commodities Commission (ECC) portrays itself as a supervisory authority, headquartered out of Belgium with a sweeping mandate to supervise such ventures as offering investors offshore investments – evidently as a safeguarding means.

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The ECC utilizes the website www.europeancommoditiescommission.com and boasts a registered office at the address of:

Antwerp Business Center, De Keyserlei 5b, box 58, 2018, Antwerp

The ECC is an unknown construct to the FSMA and in no ways is the Belgian “based” regulator registered or authorized to deal with investors. Investors, market participants, and individuals are thus warned from dealing with the illicit and fraudulent entity.

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