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Financial Regulation Agencies in Seychelles Crack Down on Fraudulent Companies
The Financial Services Authority of Seychelles (FSA) has issued a series of warnings to investors and the public about fraudulent companies operating in the country. These unlicensed companies are using various websites, including Grand Capital Ltd, COF Globol, PRO Market Group 24 LTD, Trade Propel, and others.
Warning Signs
The FSA has warned that these companies are not licensed or regulated by the authority and are likely to be fraudulent. Investors are urged to exercise extreme caution when dealing with these companies and to verify their licenses before investing.
Recent Alerts
In recent weeks, the FSA has issued several notices to alert the public about suspicious activities. One notice highlighted the cloning of the FSA’s website and the forgery of a securities dealer license. Another notice warned against the unauthorized use of websites by fraudulent companies.
The Financial Services Authority
The Financial Services Authority is responsible for regulating and supervising financial institutions in Seychelles, including banks, insurance companies, investment funds, and other financial entities. The regulator is committed to protecting the interests of investors and maintaining the integrity of the financial system in Seychelles.
History of Growth
Seychelles’ financial services sector has a long history of rapid growth and resilience, driven by a robust regulatory framework and a sophisticated portfolio of products. However, the FSA is working hard to stay ahead of fraudulent activities and protect the public from scams.
Investor Tips
Investors are advised to be vigilant when dealing with online investment opportunities and to verify the licenses and credentials of any company or individual before investing. The Financial Services Authority can provide assistance and guidance on how to do this.
Contact Information
- Address: Bois De Rose Avenue, P.O. Box 991
- City: Victoria, Mahe, Seychelles