The Financial Services and Markets Authority (FSMA), the financial regulatory agency in Belgium, has made a large update to its warning list today by adding a significant 14 additional cryptocurrency trading platforms that it suspects are scams.

With the additions, the list of suspected cryptocurrency scams now includes a total of 113 websites. Specifically, the new contenders are AJ Asset Management, Cabinet-Finsbury, Capital-Coventry, Capital-Secure, Capital & Marketing International LTD, Cobber Finance, www.cashlesspaygroup.com, Conseil Premium, CryptoMonaies, Direct EP, Epargne Capital, Gbe-Capital, Phoenix GM and http://www.moneo-invest.com/.

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However, some of the trading platforms don’t just offer cryptocurrencies; they also offer more traditional financial instruments to trade such as foreign exchange, indexes, and commodities. You can see the list of the 14 suspected scams and their websites here.

In the statement released today, the regulator said: “The principle remains the same: they offer you an investment they claim is secure, easy and very lucrative. They try to inspire confidence by assuring you that you don’t need to be an expert in cryptocurrencies in order to invest in them.

“They claim to have specialists who will manage your investments for you. You are told that your funds can be withdrawn at any time or that they are guaranteed. In the end, the result is always the same: the victims find themselves unable to recover their money!”

The Belgium financial regulator outlines that the 14 suspected scams made their way onto the list after consumers filed complaints against them with the regulator. However, the FSMA highlights that it does not include all of the companies who may be operating unlawfully within the crypto space in the country.

Consumers continue to get tricked into scams

In addition, the FSMA also highlights that despite previous warnings, the regulator is still receiving new complaints from consumers who have invested in virtual currencies through these trading platforms. Because of this, it’s always a good idea to check your local financial regulator’s warning list to make sure you’re not investing in a suspected scam.