Title: Belgian Brokers’ Identities Stolen by English-Speaking Fraudsters: A Warning to Consummers

Surge in Identity Theft Cases Among Belgian Brokers

In the past few weeks, the Financial Services and Markets Authority (FSMA) of Belgium has reported a surge in cases of identity theft involving local brokers. The perpetrators are English-speaking fraudsters who exploit the names and reputations of registered Belgian brokers to deceive unsuspecting clients.

How Fraudsters Masquerade as Legitimate Brokers

1. Using Stolen Identities:English-speaking fraudsters are creating fake identities, using the names and legally required information of Belgian brokers. They refer to the FSMA’s official website and registers to build trust.
2. Counterfeit Websites: These fraudsters often create counterfeit websites, mimicking the websites of the intermediaries they have stolen identities from. These fake websites may have the same logos and branding as the real ones.

Protecting Yourself from Identity Theft

1. Verify Contact Details

• Check that the contact details listed for the company on the FSMA’s website match those provided on the suspect’s website.
• Be aware that fraudsters may also steal postal addresses.

2. Research Online

• Use search engines to ensure that there is no other website under the name of the authorized company.
• Watch out for similar domain names, or websites that lack a proper one.

3. Assess the Facts

• Be cautious if the company claims to be based in Belgium but communicates with you from a foreign phone number or has an English-only website.
• Verify the age of the suspect’s website using online tools, as newer sites are more likely to be fraudulent.

Contact FSMA for Verification

If you have any doubts about the identity of a potential broker, contact the FSMA through their electronic consumer contact form. Stay informed and cautious to protect yourself and your investments.