MFSA issues warning about phone calls on Forex investments

Tista’ taqra bil-
Malti.

The Malta Financial Services Authority (MFSA) is warning the public about unsolicited phone calls that are being received by Maltese residents from individuals representing foreign entities and promoting investment services opportunities including Forex/FX trading and Crypto trading.

In a statement, the MFSA said that from the information available to it, it seems that the entities are not licensed or authorised by the MFSA to provide any financial services which are required to be licensed or otherwise authorised under Maltese law.

It advised the public to be extra cautious when being approached with offers of financial services, particularly offers relating to Forex/FX trading and Crypto trading via unconventional channels such as unsolicited telephone calls or social media private messages.

The MFSA also recommended that consumers inform the elderly and those less knowledgeable in financial services, as they may be more prone to fall victim to such offers.

It went on to remind the public not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator.

MFSA issues warning to unlicensed crypto company