fsma
Belgian Watchdog Battles a New Breed of “Boiler-Room” Scam Wrapped in Corporate Branding
- Two suspected firms reportedly show typical boiler room characteristics, including contacting individuals without prior request.
- They are posing as legitimate financial firms to promote fake or high-risk investments.
Thursday, 23/10/2025 | 20:49 GMT by
Jared Kirui
Think €250 Is a Small Test Investment? That’s How the Scam Starts, FSMA Warns
- Scammers are now using sponsored social media ads, fake news articles, and fabricated endorsements.
- Some bad actors request remote access to victims’ devices under the guise of offering help, exposing personal and banking details to theft.
Tuesday, 14/10/2025 | 13:56 GMT by
Jared Kirui
Scammers Are Posing as Bank CEOs in WhatsApp Groups to Steal Your Money
- Fraudsters are impersonating lenders, investment firms, and financial influencers on social media to lure victims into fake trading schemes.
- The scams involve identity theft, pump-and-dump stock manipulation, and fraudulent cryptocurrency platforms.
- All of them are promoted through seemingly legitimate WhatsApp groups.
Thursday, 02/10/2025 | 08:20 GMT by
Damian Chmiel
Investors Tricked Into Recruiting Others to Keep Fake Trading Platforms Alive, FSMA Warns
- According to the regulator, some firms operate as pyramid schemes, relying on investors whose funds pay returns to earlier participants.
- FSMA noted that although small withdrawals might be initially allowed to gain confidence, larger withdrawal attempts are blocked by false excuses.
Thursday, 24/07/2025 | 14:39 GMT by
Jared Kirui
FSMA Reports €15.9 Million in H2 Fraud Losses and 297 Warnings in 2024
- In 2024, the regulator received 2,621 reports of unauthorized activities, a 20% rise from 2023.
- Recovery room fraud cases rose 57% in 2024, with fraudsters impersonating financial authorities.
Thursday, 16/01/2025 | 11:04 GMT by
Tareq Sikder
Belgian Financial Watchdog Flags Seven Firms Engaging in “Recovery Room Fraud”
- The entities reportedly target victims of previous investment scams by offering false recovery services.
- Information about scam victims is reportedly sold to other fraudsters, increasing their vulnerability.
Thursday, 03/10/2024 | 19:48 GMT by
Jared Kirui
News Nuggets | 6 September: Zodia Expands into Abu Dhabi; Belgium FSA Issues New Warnings
- Also, Strise secured $10.8 million in funding; Finalto Asia announced its new Head of Sales.
- Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Wednesday, 06/09/2023 | 11:03 GMT by
Finance Magnates Staff
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