EUROPEAN FINANCIAL REGULATOR EFREGULATOR IS ANOTHER FALSE REGULATOR

After a fraudulent broker has deprived a client of funds, he does not stop trying to defraud moreThe scheme of deception is that to reach out to the customer fromthe regulator, which is allegedly investigating the activities of dubious projects and even ready to help recover the lost funds.

This time the editors of FXtraders became aware ofEuropean regulator EFRegulator (https://www.efregulator.com/), which supposedly helps to return funds from a would-be broker. To do this, you just need to immediately pay for the services of specialists. The registered address is 4 St Mary Ax London EC3A 8EQ, Great Britain. Fraudsters claim that EFRegulator operates directly in the United Kingdom.

In fact, in the UK there are onlyone government regulator is the Financial Conduct Authority, FCA (https://www.fca.org.uk/). Please note that the tasks of this regulator do not include the return of funds from brokers. Such organizations perform the following functions:

 

Ensure safe use of services in the financial segment by consumers. Maintain the UK's financial structure intact.

Create and maintain competition.

Monitor compliance with standards in the field of relationships between economic entities.

Monitor advertising and marketing and its compliance with the actual services provided.

Settle disputes between participants in financial relations.

Take measures to improve the skills of the management team of companies.

 

As for the eurozone, the relevant powers in this territory are exercised by the European Securities Supervisory Authority, ESMA (www.esma.europa.eu).

Note that this is not the first time thatscammers use regulators in their schemes. In August 2020, FXtraders journalists reported that scammers had created a fake Bank of Russia website - cbr26.com/, where users logged in to pay for services. Below is the corresponding screenshot:

According to official data, the Bank of Russia does not participate in such procedures and does not provide assistance in returning funds from brokers, let alone unlicensed ones.

Previously unknown people “launched” their own registrycompanies from FCA registered in Foggy Albion. As reported by the UK Financial Regulatory Commission, a fake company registry website was identified on the Internet - www.register-fca.org.

The attackers also offer participantsfinancial markets compensation for loss of funds for a certain fee. Last August, CySEC was confronted with unknown individuals posing as an official regulatory organization when approaching investors.

NOTE!CySEC does not unilaterally request personal data and banking details, nor does it ask for any financial transactions. In addition, the CySEC Commission is not involved in payment issues or any money transfers between different individuals or legal entities, agencies, etc.

In addition, scammers send clientscompanies whose licenses were revoked by the Bank of Russia at the end of 2018, letters allegedly from the Royal Bank of Scotland with an offer to return the funds. But that’s not all: cases have been identified where unknown people even created false regulators to implement their insidious plans.

HOW TO NOT FALL INTO THE “TRAPS” OF FRAUDERS?

To avoid losing funds, always requestdetailed information about the company/project, and then carefully check the registers and information presented on the website for accuracy. Alternatively, you can contact the regulator with a request to provide a copy of the license or certificate of a particular company. Thus, you will be able to compare the received data with those indicated on the company’s official website. Once you are convinced of the truth of the facts, you can invest.

Dear visitors and users of the portal!If you have questions regarding the activities of a particular company or would like to clarify any data related to the activities of a broker, write to us at[email protected]. Our experts will be happy to help you!