France’s financial markets authority, the AMF, is warning the public to be cautious about the automated trading service offered by Immediate Connect that is being advertised with famous people’s names and news sites. People have already complained and asked questions to the AMF about it.
Potential Investors Warned of Investment Scam Featuring Fake Endorsement from TV Presenter
Investors reported finding out about an automated trading service online, after reading an article that was being passed off as a publication from a major national newspaper. It claimed that a well-known TV presenter had endorsed the service for its ability to make people ‘rich quickly’, saying it would be easy to “earn a million euros in 12-15 weeks”.
After filling out their information on an Immediate Connect contact form, potential investors quickly received a call from a supposed financial adviser. This person encouraged them to invest in the foreign exchange market (Forex), crypto-assets (such as bitcoin), or derivatives of crypto-assets. When they tried to get their supposed profits, they were asked to pay a “capital gains tax”.
The AMF reminds investors that only businesses that are authorized by the EU to provide investment services, such as trading. In France, only DASPs registered with the AMF are allowed to promote the buying and selling of crypto-assets.
- The AMF has put a stop to the operations of these unauthorized companies by taking several steps.
- The AMF urges people to exercise caution before making any investments. They recommend researching the potential risks and rewards and thoroughly researching the company they are considering investing in.
- Be cautious of any trading websites that make promises of fast profits, as these may not be achievable.
Avoid the Forex market, which is an unregulated currency market. The risk of losing more money than was invested is extremely high, especially if you don’t have experience in investing.
