FSMA: Scammers Pose as Major Banks to Defraud Unsuspecting Consumers

<p>Scammers have found a new way to
deceive unsuspecting consumers by impersonating major banks despite repeated
warnings dating back to 2021, the Financial Services and Markets Authority
(FSMA) announced, adding that this type of fraud is on the rise. </p><p>These criminals use different tactics,
such as contacting potential victims through phone or email, often after they
share their contact details via social media or sponsored ads. The culprits promise
their victims significant profits and capital protection through appealing
savings plans, the FSMA said in a statement published today (Monday). </p><p>FSMA Uncovers Deceptive Email Addresses</p><p><a href="https://www.financemagnates.com/tag/fsma/" target="_blank" rel="follow">The Belgian regulator</a> said it had
recently received numerous reports of scammers operating under the identity of
well-known financial institutions, including BGL BNP Paribas Fortis, Bunq,
Fineco, Revolut-épargne, Triodos, and the London Stock Exchange. </p><p>These impostors use email addresses
that resemble those of legitimate banks to conceal their deceit, such as:</p><ul><li>BGL BNP Paribas Fortis, using email
addresses ending with "@bglgestionprivee.com."</li></ul><ul><li>Bunq, who employed email addresses
ending with "@epargnebunq.com.".</li></ul><ul><li>Fineco, resorting to email addresses
ending with "@fib-gestion.com" and "bfigestion.com". </li></ul><ul><li>Revolut-épargne, using email addresses
concluding with "@revolut-epargne.com".</li></ul><ul><li>Triodos, with email addresses ending
in "@triodos-europe.com" and "@triodos-finance.com".</li></ul><ul><li>London Stock Exchange, who cunningly
used email addresses finishing with "@lse-gestion.com" and had a
website at "www2.lse-private.com".
</li></ul><p>These scammers don't limit themselves
to masquerading as banks. According to the FSMA, they may also use the same
technique to offer various other banking services, including credit. Regarding
credit offers, the scammers demand fees under the guise of processing the
credit application. </p><p>FSMA Bolsters Regulatory Scrutiny</p><p>Similarly, the FSMA raised red flags
concerning 38 <a href="https://www.financemagnates.com/terms/o/online-trading/">online trading</a> platforms offering unlicensed services within the
country in June. This list of unscrupulous operators includes entities engaged
in <a href="https://www.financemagnates.com/terms/f/forex/" target="_blank" rel="follow">foreign exchange</a>, contracts for differences, and <a href="https://www.financemagnates.com/tag/crypto/" target="_blank" rel="follow">cryptocurrency</a> trading. </p><p>The
FSMA recently introduced a new regulatory framework to monitor advertisements
targeting crypto users in Belgium. The new <a href="https://www.financemagnates.com/terms/r/regulation/">regulation</a> mandates companies
planning to promote crypto-related services to provide the regulator with a 10-day
notice before the advertisement is published on various media platforms,
including social media, billboards, and websites, among other provisions.</p>

This article was written by Jared Kirui at www.financemagnates.com.