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Belgium’s FSMA warns against Kuvera scam


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Unregulated Forex brokerage Kuvera has been blacklisted by the regulatory authority in Belgium. The country’s main financial regulatory suspects them being involved in scam operations.

According to a statement posted by the Finance and Markets Authority in Belgium, “Kuvera is not, however, authorized to offer financial services and products in Belgium. Moreover, the system proposed by Kuvera exhibits features characteristic of a pyramid scheme.” Also, the French supervisory authority the Autorité des marchés financiers and Spain’s Comisión Nacional del Mercado de Valores (CNMV) have also issued warning against the scam operation that appears to be targeting mostly young people through its website.

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