Mauritius’ financial regulator, the FSC has warned the public against an unauthorized firm, Crypto Pros Ltd that has been offering financial products in the country.
February 9, 2021 | AtoZ Markets – One of the most popular financial regulators among the participants in the OTC industry, the Financial Services Commission (FSC) of the Republic of Mauritius, published a public warning against a crypto broker, which claims to be registered in the jurisdiction without having official permission.
Mauritius FSC warns against Crypto Pros Ltd
Specifically, the Mauritius regulator has warned the public against dealing with Crypto Pros Ltd.
“FSC has learned that a company operating under the name Crypto Pros Ltd claims on its website cryptopros.ltd that it has an investment dealer license issued by the Commission. FSC hereby informs the public that Crypto Pros Ltd or any other legal entity or person representing this brand has never been licensed or regulated by the Commission. In this regard, we would like to warn the public against cooperation with this organization, ”the Mauritian regulator said in a laconic release.
Indeed, the investment platform Crypto Pros, which indicates a physical address in New York (USA), published a fake certificate from the Mauritian regulator on its website. Moreover, the organizers of the scam project went even further and added 2 more fake certificates: the license of the Cypriot regulator CySEC numbered 215/13 (according to the registry, this license belongs to a completely different investment management company – A-Conversio Capital Ltd) and the industry certificate.
Of course, this is not the first time that the trading industry scammers mislead users by providing fake details, especially those related to offshore jurisdictions. But this case once again emphasizes the need to verify the information offered by forex about crypto brokers to their potential clients, for example, by looking at the official register on the website of the regulator itself.
Think we missed something? Let us know in the comment section below.