Finance Academy Trading
Finance Academy Trading (www.financeacademytrading), contacts people who have previously been victims of investment fraud, claiming to be able to help them recover the sums they invested in the past.
This practice is typical of “recovery room” fraud, a fraud mechanism about which the FSMA published a warning on 16 March 2015. Experience shows that the fees charged with a view to recovering one’s investment never make it possible to get back the money invested, and the fees paid for the purpose are thus lost as well.
According to information in the FSMA’s possession, persons who have been contacted by Expert Data had previously invested in the following unauthorized firms: Next Binary and Insta-Trading, companies about which the FSMA has already published warnings.
In addition to recovery services, Finance Academy Trading also claims to offer investment advice and account management services.
However, the above offer is made without complying with Belgian financial legislation.
Finance Academy Trading is not an authorized investment firm or credit institution in Belgium. They are therefore not allowed to provide banking and/or investment services in or from Belgium.
The FSMA therefore strongly advises against responding to any offers of financial services or to any public offers of investment instruments made by Finance Academy Trading and against transferring money to any account number it might mention.
The FSMA recommends vigilance with regard to companies such as this one which offer online investment services as well as with those companies who offer recovery services. Always verify that any company which is offering you financial services has the requisite authorization. For more recommendations, please consult the general warning published by the FSMA on 25 September 2015 on its website.
If you wish to check in general whether a proposed transaction complies with the financial regulations, please use the search function (available in Dutch and French only) on the website of the FSMA. You can also contact the FSMA (email address: email@example.com).