CNMV | FinTelegram News

Category: CNMV

October 13, 2021

Attention! Do not fall for the fund recovery scheme LegalFCA

Fund recovery is a sad and brutal business. Sad because it involves people who have lost their money on the Internet to scammers and are desperate. Brutal because the fund recovery people are exposed to threats and slander of scammers. Unfortunately, among the fund recovery providers, there are many greedy lawyers and even more scammers who take away a lot of money from the victims once again. LegalFCA is one of these scammers that the UK FCA and the Spanish regulator CNMV have warned against.

October 11, 2021

Alert! TIOMarkets facilitated by Praxis Cashier and FCA-regulated Monsas attacks consumers!

The Spanish regulator CNMV today issued a warning against broker scam TIOMarkets (www.tiomarkets.com). TIO Markets Ltd, registered in St. Vincent & The Grenadines, is allegedly running the scam. Potential victims are chased via the fake site of DonauCapital Wertpapier GmbH (www.donaucapital.es) pretends to be a German investment company regulated by the CNMV. After registration, victims receive a welcome email from TIOMarkets and are redirected to their website.

October 11, 2021

Spanish CNMV warns against ElComercio24 powered by AirSoft

FinTelegram issued an investor warning against forex & CFD broker scam El Comercio24 (www.elcomercio24.com) in June 2021. At that time, the scam deployed the fraudulent Crypto Engine marketing campaign to chase victims in Europe. Today, the Spanish regulator CNMV shared FinTelegram's opinion and issued an investor warning against El Comercio24. The scam is a white-label solution on the Israeli AirSoft platform, about which we recently published a Request 4 Information (R4I).

October 5, 2021

Attention! Another warning against Finomarkets broker scam!

We have already warned against the Finomarkets (www.finomarkets.com) scam several times. A few weeks ago, the Spanish regulator CNMV warned, and now the UK FCA issued an investor warning. The Finomarkets website does not specify an operator or a competent jurisdiction. Coinicash is the facilitating payment processor for credit and debit card payments with Texcent and AdvCash, who process the payments. Victims’ deposits are represented and miscoded as purchases of cryptocurrencies on the Coinicash exchange.

October 4, 2021

Spanish Regulator issues another warnings tsunami against more than 40 websites

Evidently, the Spanish regulator CNMV is apparently working around the clock to expose scams and illegal cyberfinance websites and issue warnings against them. In the previous week, the regulator issued investor warnings against more than 50 websites. This week, more than 40 websites and their operators are on the CNMV's warning list. Among them are already well-known names but also a few new ones. Some from Russia.

CNMV

September 27, 2021

Spanish CNMV issues warnings against more than 50 illegal websites and scams

The Spanish CNMV is one of the most active regulators in the European Economic Area (EEA), along with the Italian Consob and the UK Financial Conduct Authority (FCA). Typically, the CNMV issues between 8 to 15 warnings per week against scams and operators of illegal financial activities. However, today, September 27, 2021, the CNMV issued warnings against more than 50 domains and websites and their operators. We have not been able to analyze them yet; reviews of the particular warnings will follow over the next couple of days.

September 18, 2021

Wellington Holdings, Solid Invest, and the huge Capital Letter scam network

It is indeed a huge scam network. Scams will typically either take offshore companies or simply invent fake companies. Only rarely, they are operated by companies in Europe as is the case with the Capital Letter scam network. Capital Letter GmbH, registered in Munich, Germany was the operator of several large scams until the end of 2020. In addition, two other companies also registered in Germany, Brunnlitz GmbH and Tokkata Software GmbH, participated in the scams. All three companies are operated by Ukrainian individuals; all received warnings from regulators.

September 13, 2021

Investor warning – FinoMarkets facilitated by Coinicash, AdvCash, and Texcent

Spanish financial markets authority CNMV issued a warning against FinoMarkets on September 13, 2021. The scam's website does not specify an operator or a competent jurisdiction. However, we have again Coinicash acting as a payment processor for credit and debit card payments. Coinicash is again facilitating in its capacity as a registered merchant with Texcent and AdvCash, who actually process the payments. Victims' deposits are apparently represented and miscoded as purchases of cryptocurrencies on the Coinicash exchange.

September 13, 2021

The Baumont Group with 24NewsTrade and StockFX

EstonianFinantsinspektioon issued a warning against Baumont Solutions OÜ and the scam 24NewsTrade on April 13, 2020. Spanish CNMV issued a warning against Baumont Group Ltd and its scams StockFX and 24NewsTrade on June 15, 2020, The German BaFin issued a Cease and Desist Order against 24NewsTrade on May 25, 2021. This did not bother the scam operators. 24 News Trade is still online. On 11 Sept 2021, the Austrian FMA issued an investor warning.

September 7, 2021

Spanish CNMV warns against BridgerPay client ProAktivMarket

CNMV has issued a warning against ProAktivMarket. An entity in St. Vincent and the Grenadines allegedly operates the scam. A specific legal entity is not named on the website of the scam, which attacks consumers and naive retail in German and English. German-speaking consumers seem to be the primary target. As a payment processor for credit and debit cards, we have once again discovered BridgerPay and Neobanq. Perfect Money and the Estonian crypto payment processor Quamtor are integrated into the facilitating BridgerPay cashier.

September 7, 2021

Attention! GoldBachInvest broker scam facilitated by BridgerPay and Coindeck

CNMV has issued an investor warning against GoldBachInvest (www.goldbachinvest.com). The operator of the scam is allegedly Gold Bach Invest Limited, registered in the Marshall Islands. Our educated guess would be that the same scammers and boiler rooms operate GoldBachInvest as the GS4Trade scam (report here). Both operate on Leverate's SIRIX platform. As a supporting payment processor, we again found Israeli-Cypriot VISA network partner BridgerPay; and Slovakian crypto payment processor Coindeck.

September 6, 2021

Latvian Racket – Spanish regulator warns against Morgan FX Capital scam

Today, the Spanish regulator CNMV has issued a warning against the Morgan FX Capital (www.morganfxcapital.com) broker scam. The operator of this scam is UK-registered Preqster Ltd which already operated the vanished scams Pips500 (www.pips500.com) and Preqster FX (www.preqsterFX.com). It is controlled by the Latvian citizen Sergejs Vasiljevs and is one of the many legal entities of the so-called Latvian Racket. n our review today, none of Morgan FX Capital's payment options worked.