Forex scammer Universal Markets falls on the radar of the CNMV
Posted: Sun Jun 14, 2020 11:14 pm
The Spanish financial regulator the Comision Nacional del Mercado de Valores (CNMV) blacklisted the unregulated forex broker Universal Markets, together with a few other scammers.
According to the regulator’s official warning, the company is not properly licensed by the relevant authorities but has been providing people with financial services.
Universal Markets claims to be owned by a company registered as Universal Markets Ltd. The broker provides false corporate information. What is more, this is not its first blacklisting – the Italian regulator CONSOB also issued one against them, as it often happens with scammers that continue to operate for a longer period of time and in different jurisdictions.
Source
What really bothers me about companies like this is how they continue to operate with impunity despite multiple regulators being aware that they are scammers. They are completely anonymous and law enforcement cannot find them, so they keep ripping naive newbies off.
According to the regulator’s official warning, the company is not properly licensed by the relevant authorities but has been providing people with financial services.
Universal Markets claims to be owned by a company registered as Universal Markets Ltd. The broker provides false corporate information. What is more, this is not its first blacklisting – the Italian regulator CONSOB also issued one against them, as it often happens with scammers that continue to operate for a longer period of time and in different jurisdictions.
Source
What really bothers me about companies like this is how they continue to operate with impunity despite multiple regulators being aware that they are scammers. They are completely anonymous and law enforcement cannot find them, so they keep ripping naive newbies off.