2023-08-28 08:08:05
The Financial Services and Markets Authority (FSMA) warns the public on Monday against the activities of several companies that act irregularly. These are the companies IWL Consulting, May Capital Group and South Pass Partners. The latter are not authorized to provide investment services on Belgian territory.
The FSMA therefore strongly advises against following up on their offers of financial services and making any payment to a bank account that they provide.
Furthermore, these companies could operate on the principle of the “boiler room”, a form of fraud which generally consists of contacting consumers – uninvited and often by telephone – to offer them the purchase of shares or other products. financial.
“In general, the consumer is attracted by means of an initial investment, of a limited amount, which very quickly turns out to be profitable. Subsequently, the consumer is asked to invest more each time,” explains the FSMA. “When the consumer wishes to recover his money, this proves impossible without additional payments and/or new investments begin to show losses. The crooks submit the consumer to very strong pressure, pushing him to pay more and more money (hence the English name “boiler room”). In the end, the consumer never recovers the amounts invested.
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