financemagnates.com
On Thursday, the Autorité des Marchés Financiers (AMF) and Prudential Supervisory and Resolution Authority (ACPR) said that they had blacklisted a website belonging to Omega Pro Ltd.
According to the advisory, Businessempire.fr was added to the list by both authorities, as the website allegedly belongs to www.omegapro.world, which was already blacklisted in 2020. The aforementioned site offers Forex trading services without authorization, the AMF noted in the press release.
MLM-Style Offering
“Following numerous testimonials and reports from savers, the AMF and the ACPR had placed unauthorized sites on their FOREX’s blacklist of the trading platform www.omegapro.world on August 6, 2020. However, the Overseas Emission Institute (IEOM), which acts as central bank in communities whose currency is the Pacific franc, has informed the two authorities of the existence proactive canvassing by Omega Pro Ltd on the Polynesian territory. The company’s modus operandi described by the testimonies is similar to the aggressive practices of network marketing companies (MLM) selling trading training packs, already denounced by the AMF in June 2020,” the AMF stated.
Businessempire.fr claims to offer unrealistic gains of over 300% in 16 months, the AMF said, thanks to an automated trading service presented as a ‘safe haven’.
The authority adds: “The AMF points out that Forex is a risky market, on which individual investors can suffer heavy financial losses, for example through leveraged derivatives such as CFDs (contracts for difference), speculative financial instruments allowing them to bet on upward or downward variations of an index, stock, currency pair, etc., without owning it.”
As of press time, Omega Pro Ltd is not authorized to provide investment services in mainland France, overseas departments, or overseas territories. The authority previously issued a warning on February 3 about the unlicensed status of Omega Pro Ltd and asked people to exercise caution when dealing with this kind of company.