The French financial market regulator (AMF) recently conducted an investigation into several unregulated foreign exchange brokers who provide products under multiple brands. It is worth noting that AMF did not identify any crypto asset providers in its latest warning.
Blacklisted companies have been providing professional investment services to domestic clients without proper authorization, which is a criminal offense. The one size fits all reasoning provided by AMF is that these companies may be engaged in fraudulent activities, so they have not obtained a license to engage in transactions with French clients.
In 2022, French regulatory authorities included 49 foreign exchange investments on their warning list, compared to 61 in 2021. In the category of crypto asset derivatives, the number of blacklisted websites has significantly decreased to only two, compared to an increase of 24 websites in the previous year.
Recent warnings indicate that encryption remains an important source of fraud in Europe. Although many companies on the AMF blacklist claim to be headquartered in France, most of the addresses provided are false, and these companies are actually located overseas.
The list of published providers includes the following domain names:
Cint.pro
Sintra Group
Green-capitalz.com
Gaoxin Capital
Ipgatetrade.pro
Spotyfx.com
Stbmarkets.com website
Super Ethereum. io
AMF stated that it continues to receive reports of victims becoming victims of scams that purchase stocks of listed companies through fraudulent platforms disguised as regulated "savings account" providers. It also advises the public to be vigilant about stock recommendations provided by social media and messaging applications.
