Financial Regulators in Seychelles on High Alert as Scam Alerts Soar
The Financial Services Authority of Seychelles (FSA) has issued several scam alerts and warnings to investors, licensees, and the general public over the past few months. These warnings come as the authority continues to crack down on fraudulent activities in the financial sector.
Scams Targeting Investors
The FSA has taken note of several websites operated by fraudulent companies that are using unauthorized names and logos to deceive investors. Some of these websites include:
- Grand Capital Ltd
- COF GLOBOL
- PRO MARKET GROUP 24 LTD
- Trade Propel
- Many others
Unauthorized Activities
According to the FSA, these websites are not linked to any entity licensed or regulated by the authority in Seychelles. The agency is urging investors to exercise extreme caution when dealing with such companies and to verify the authenticity of any investment opportunities before committing to them.
Fake Websites Cloning Official Sites
In addition to these scam alerts, the FSA has also issued warnings about unauthorized use of websites that are cloning its own website or forging securities dealer licenses. One such website is https://www.fsaseychelles.com/, which is currently cloning the FSA’s official website.
About the Financial Services Authority
The Financial Services Authority was established in 1995 and is responsible for regulating and supervising the financial services sector in Seychelles. The agency’s primary objective is to protect the interests of investors, licensees, and the general public by ensuring that all financial institutions operate within a robust regulatory framework.
Seychelles: An Attractive Destination for International Businesses
With its sophisticated portfolio of products and efficient services delivery, Seychelles has become an attractive destination for international businesses and investors. The country’s financial sector has experienced rapid growth over the years, driven in part by its strong regulatory environment.
FSA Commitment to Integrity
The FSA is committed to maintaining the integrity of the financial sector in Seychelles and is working closely with other regulatory bodies to ensure that all financial institutions operate in a transparent and fair manner. Investors are advised to remain vigilant and to only deal with licensed and regulated entities in order to avoid falling victim to scams and fraudulent activities.