News & Warnings

Communication by the Federal Prosecutor’s Office and the FSMA on investment fraud

News
News article
31/01/2020

On Wednesday 29 January 2020, the Federal Prosecutor's Office and the Financial Services and Markets Authority (FSMA) held a joint press briefing at the FSMA premises to provide information on different types of investment fraud currently being committed.

On this occasion, Mrs Wenke Roggen, federal magistrate and spokeswoman for the Federal Prosecutor's Office, commented on judicial investigations conducted jointly by the Belgian and French authorities, which led to the arrest of several people in connection with an extensive dossier of cryptocurrency investment fraud.

Mr Jean-Paul Servais, Chairman of the FSMA, gave more detailed explanations on the broader issue of investment fraud, detailing in particular the methods used by fraudsters to try to steal investors' money. In his presentation (available in French or Dutch only), he pointed to the important collaboration between financial sector supervisors and judicial authorities and highlighted the preventive and enforcement role of the FSMA. In 2019, as many as 138 warnings were issued by the FSMA, which reported these cases to the Prosecutor's Office. 173 websites were blocked by the Prosecutor's Office at the request of the FSMA.