Malta Financial Services Authority warns on falsifying regulation

The Malta Financial Services (MFSA) Authority today notified the public that is has become aware of the binary option website which is misleading the public by using in its “contact page” the name and details of a genuine firm authorized by the MFSA, thus giving the erroneous impression that the entity is licensed by the Authority to provide Investment Services.

The company is obviously not regulated by the MFSA and it most probably a scam website. The website portrays its homepage as a french site, recently there have been issues with the French authorities and scam trading operators, with the french financial regulator blacklisting binary options firms in bunches.

The MFSA alerts the public, in Malta and abroad, to refrain from undertaking any business or transactions with the above-mentioned entity. The MFSA would like to remind consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorized to provide such services by the MFSA or another reputable financial services regulator.

A list of entities licensed by the MFSA is available from the MFSA and can be viewed here.

Read Also: