Belgian Supervisory warns of further crypto-fraud

In the fight against fraud in the crypto sector of Belgium Supervisory authority, lists all the projects that are reported to investors. The list is getting longer and longer.

More and more fraud the supervision of reported cases

Belgium is fighting with great commitment against the black sheep of the crypto industry. Because in addition to the opportunities of the Bitcoins or Altcoins like Ethereum, there are also risks. Where money is earned, cavort, sooner or later, Criminals. Regular messages to the Malware and Trojans confirm that the authorities are justified in alert. The financial market authority of Belgium for some time already a “black list” that will be added to from time to time, new cases of fraud. At the end of the month of October, a whole series of other projects were in the ranks of the state-persecuted-party insert. The financial market authority FSMA reported: a Total of nine projects, the authority put in addition to your summary. The list grows and thrives in a negative way, constant.

More than 100 projects have now been reported

Meanwhile, it includes about 130 different projects in which the market supervisors amounted to smell or confirmed. In addition to its own investigations, in particular, notifications by the investors in the country to the procedures and Verifications carried out with subsequent inclusion on the list. Regularly update the market supervision, after controls have either confirmed suspicions or disprove it. For investors, the FSMA-data collection is important not to fall victim to scammers. As in the case of police investigations in the area of cyber crime, but a Dilemma results: messages are almost always, after there has already been a victim. The perpetrators, the authorities are almost always a step ahead. Thus, Supervisory authorities are able to react basically. On the list of companies that steal customer data are in addition to crypto-crooks. Add to this, ICOs, in which apparently the vendors want to enrich.

Authorities are almost always bound the hands

The summary of the service providers have, as a rule, no approval of the authority and work without state permission. Opportunities for access for supervision, there is not often. Simply because the commercial area are generally not within the regulatory jurisdiction of a resident. Legally unable to curb the scammers so often. And the fraud issue is coming to a head, according to FMSA steadily. More than issue warnings, not remains of the supervision as a means of mostly. And in the face of a presumably very high number of unreported cases. One more reason why many observers are calling for the creation of uniform international control mechanisms. Unknown only the number of fraudulent firms and projects is not the exact annual damage is quantifiable. Illegal access to Wallets, data phishing and many other threats are especially for beginners is harmful.

Featured Image: From lunopar k | Shutterstock.com