Belgian Consumers Warned: Be Cautious of Financial Fraud Schemes

The Federal Financial Services and Markets Authority (FSMA) is urging vigilance among Belgian consumers to educate them on the various types of financial fraud schemes that are targeting citizens.

Warning Signs of Financial Frauds

Fraudulent offers can take many forms, including credit schemes, investment proposals, and other financial services. These scams often prey on unsuspecting individuals who are enticed by promises of high returns or low-risk investments. To protect yourself from falling victim to these schemes, be aware of the following warning signs:

• If an offer seems too good to be true, it probably is.
• Be cautious of companies that promise unusually high yields or guaranteed returns.

Researching Financial Services

Consumers are advised to research any company offering financial services by checking whether they have been named in a warning by:

• The FSMA
• Foreign supervisory authorities
• The International Organization of Securities Commissions (IOSCO)

These warnings can be found on the respective websites.

What to Do if You Suspect Fraud

If you suspect that an offer is fraudulent or have already fallen prey to investment or credit fraud, don’t hesitate to contact the FSMA directly for guidance and support.

Protecting Yourself from Financial Scams

With knowledge and caution, Belgian consumers can protect themselves from these financial scams and make informed decisions about their money. By being aware of the warning signs, researching financial services, and seeking guidance if needed, you can safeguard your financial well-being.