CySEC Issues Warning Against Four Unregistered Investment Websites

The Cypriot financial market supervisor, CySEC, has recently blacklisted four websites that are offering investment services in the country without permission.

Fazzaco Live Webinar on 12th May: Vladimir Moshkov on How to Start a Crypto Exchange from Scratch

CySEC highlighted that the following websites do not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities:

• ​cryptobanxatrade.com

• ​fxwet.com

• ​skyecryptofx.com

• ​capitalbasefx.com

CySEC urges investors to consult its website before conducting business with investment firms, in order to ascertain the entities which are licensed to provide investment services and/or investment activities.

CySEC has been very active in taking action against non-compliant entities recently. This month, it has imposed an administrative fine of €10,000 to CIF BrokerCreditService (Cyprus) Limited for non-compliance on market abuse. In addition, it has fined CIF Capital Com SV Investments Ltd 10,000 euros for regulatory breaches.