CNMV | FinTelegram News

Category: CNMV

January 17, 2023

Spanish Watchdog CNMV issued 11 News Warnings!

Spanish regulator CNMV issued warnings against 11 financial websites operating illegally on January 16, 2023. Among them, against one scam we have already reported. It seems that 2023 could also be a record year for financial warnings. In recent years, regulators worldwide have seen a massive increase in their warnings. Of course, this also means that financial cybercrime is still booming.

October 20, 2022

Attention! Broker Scam Keler Group Still Chases After Unsuspecting Victims!

We recently warned against the Keler Group broker scam, which deployed the fraudulent YuanPay crypto campaign to chase after victims. In our initial review, we exposed that the scam asked its victims to make deposits via the crypto stablecoin USDT, which had to be purchased with credit cards via the Bulgarian AllCoinSwapper and the licensed Estonian crypto payment processor Mercuryo. This week, the Spanish CNMV issued a warning against Keler Group. Stay away!

October 20, 2022

Urgent Warning Against Offshore Entity Primis And Its Broker Scam SpotInvest!

A month ago, the Spanish regulator CNMV warned against the broker scam BBanc, allegedly operated by St. Vincent & The Grenadines registered Primis LLC (report here). On 8 Sept 2022, the UK FCA also warned against this offshore broker, as did the French AMF and the Canadian FCNB. Primis LLC was also the operator of the vanished FX Changer scam. This week the CNMV warned against Primis and its broker scam SpotInvest.

October 20, 2022

Spanish CNMV Issues A Warning Against The EuropeMarket Broker Scam!

In May 2021, German BaFin issued a Cease and Desist Order against EZ2GO Ltd, registered in the Commonwealth of Dominica (report here). It operated the broker scam CapitalFX. On 26 Sept 2022, BaFin announced investigations against the broker scams Europemarket.io and Economix.io. Other regulators followed with warnings. This week, the Spanish CNMV issued a warning against EZ2GO and EuropeMarket.

September 19, 2022

Spanish Financial Watchdog Warns Against Ten Illegal Websites!

Spanish financial services watchdog CNMV issued warnings against ten illegal financial websites on September 19, 2022. Among them are some we already know and warned against like Investirex, Prime Invest, or MetaversesWorld. One, DGXLTD already vanished with its website. Besides, the CNMV has also warned against a fake news site that hunts naive victims for brokerage and investment scams with false news. Below is the list of new CNMV warnings.

September 6, 2022

Attention! Regulatory Warnings Against Crypto Exchange KuCoin

Established in 2017, KuCoin is one of the largest crypto exchanges worldwide, with more than 11 million customers. MEK Global Limited, registered in Seychelles, and PhoenixFin Pte. Ltd in Singapore are the operating entities. In early August 2022, Canada's Ontario Securities Exchange (OSC) warned against KuCoin for unauthorized securities trading based on a report of the Capital Markets Tribunal in Toronto. On September 5, 2022, the Spanish CNMV issued a warning against the crypto exchange.

August 30, 2022

Summer Break Is Over! Spanish CNMV Issues Seven Warnings!

The Spanish regulator CNMV is usually one of the most diligent warners against illegal financial offers and scammers, along with the UK FCA and the Italian Consob. However, the CNMV has issued almost no warnings in the last four weeks. The regulator issued the last warnings on 1 August 2022 before going into the summer break. On 29 Aug 2022, the Spanish watchdog issued seven new warnings, including four scam brokers. Below is the list of the new warnings.

August 5, 2022

Urgent Investor Warning Against Attiora Broker & Crypto Investment Scheme!

In June 2022, the German regulator BaFin announced an investigation into the Attiora broker and crypto investment scheme, pointing out that financial services are offered through various domains without permission. In early August 2022, the Spanish CNMV regulator also warned against Attiora and its various domains. The scheme is operated through legal entities in Australia. Potential victims can make deposits to Attiora in cryptocurrencies only. Stay very far away.

August 4, 2022

Investor Warning Against BBanc And FX Changer Broker Scams!

the Spanish regulator CNMV warned against the broker scam BBanc, allegedly operated by St. Vincent & The Grenadines registered Primis LLC. This offshore entity is registered as a broker with the Mwali International Services Authority on the Island of Moheli. Primis LLC is also the operator of the FX Changer broker scam. In our BBanc review, we have discovered Coini-Changer as a payment processor. There, potential victims buy cryptos with credit cards which are then transferred to the scams. Stay very far away.

August 3, 2022

Attention! Please Do Not Fall For The MaxiTrade Broker Scam!

The MaxiTrade broker scam has been active since at least 2019 and has already received a warning from regulators such as the Spanish CNMV, the Polish KNF, and most recently, the Austrian FMA. Maxi Services Ltd, Market Solutions Ltd or Strategy One Ltd were allegedly the operators. Currently, the website states an entity named Day Dream Investments. The scam also has a compliance certificate from the fake regulator IFMRRC. Currently, registrations are no longer possible. It seems that MaxiTrade will soon be gone with the victims' money.

July 28, 2022

Stay Away From OptimizeFunds Broker Scam!

Despite the record-setting summer heat, broker scams are very active. The Spanish CNMV warned against OptimizeFunds and we took a closer look. In our review, we found that OptimizeFunds, operated by the offshore entity Asterisk Group LLC, runs as a white-label mutation on the same platform as Invest Atlas, Gitex Capital, EMConsulting, and dozens of others. As a payment processor, we discovered the anonymously operating AgorPay. Stay far away from this broker scam and save yourself losses!

July 27, 2022

Urgent Warning Against Gitex Capital Broker Scam!

Spanish regulator CNMV warned against the Gitex Capital broker scam on July 26, 2022. Therefore, we have done a review to get more information. In doing so, we found that Gitex Capital runs as a white-label mutation on the same platform as Invest Atlas, OptimizeFunds, EMConsulting, and dozens of others. As a payment processor, we discovered the anonymously operating AgorPay. Stay far away from this broker scam and save yourself losses!