The Financial Services Commission Mauritius Issues Warning against Two Financial Investment Firms

The Financial Services Commission (Mauritius) has just issued a warning against two financial services providers. The FSC Mauritius has claimed that both firms are involved in offering unregistered services to the locals in Mauritius.

As per the FSC Mauritius, the first firm it expects to be a fraudulent entity is Billionaires Finance and the second one is Financemarketindex. The regulator has a strong reason to believe that both firms are involved in running a scam as they are being unfaithful to the locals of Mauritius.

As per the regulatory authority, these firms are falsely claiming they are registered and authorized to operate in Mauritius. These firms are being dishonest with the locals of Mauritius leading them to believe that they are authorized entities to operate in the country.

The FSC Mauritius has confirmed that these firms have no permission to operate in Mauritius and offer financial services to the locals. Therefore, any services offered by these firms are unregulated and unsafe to interact with.

If the investors from Mauritius continue interacting with the platforms, there are chances they may lose their funds to them. If lost, the money may be unrecoverable and none of the regulatory authorities in Mauritius will be able to protect their interests or funds.

Warning against the Firms

The Financial Services Commission has warned the investors that Billionaires Finance and Financemarketindex are not registered firms in the country. They are not authorized to offer any kinds of financial services or products to the locals.

Both the firms have no authorization to operate in Mauritius so the services they are offering are unsafe and unprotected. These firms pose great risks on the investors if they continue investing money with them. They may end up losing their funds and they may not be able to recover them afterwards.

Both Firms are Unregistered

The financial service commission has revealed that Billionaires Finance and FInancemarketindex are not registered to operate in Mauritius at all. These firms have not registered themselves at all but they claim that they are regulated.

They claim to be registered through the regulatory authorities from Mauritius. The only regulator in Mauritius that can issue a license to financial companies to operate and offer financial products is the Financial Services Commission.

The Financial Services Commission (Mauritius) has confirmed neither of the firms are registered or licensed to operate in the country.

Intimation for the Investors

Based on the false claims made by the firms, it is highly likely that these firms are running a scam. They may be posing to be licensed but they are not authorized to offer their services in Mauritius at all.

This is the reason why the investors must remain extremely cautious and alert when dealing with them. The firms are reportedly offering services in financial products such as cryptocurrencies, commodities, and other major assets.

The nature of these assets is already very risky let alone trade them through unregulated firms. There is a very high possibility that the only motivation for these firms to be operating in Mauritius may be to defraud people.

They may offer them different kinds of services, bonuses, and benefits in order to lure them. Once they get the investors onboard, they may ask them to make huge deposits promising huge returns versus zero chances of facing losses.

These can be the tactics adopted by both firms to acquire the personal information as well as funds of the investors from Mauritius. Once acquired, the firms may exploit them and use the information and funds for their benefits.

It is being suggested by the regulatory authority that the investors must refrain from making any investments through the firms. There is a high chance they may lose their savings and funds to these firms with no possibilities of recovering them.