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Friday, 9 December 2016

Latvian Financial and Capital Market Commission warns about OneCoin - again



Latvian Financial and Capital Market Commission has decided to warn Latvians again about OneCoin describing it as a pyramid scheme. The previous warning was given only about 9 months ago, 3 March.

Here's the warning translated with the lovely assistance of Google Translate:

We continue to warn about the services provided OneCoin


08/12/2016

We continue to warn about the services provided OneCoin

Financial and Capital Market Commission (FCMC) repeatedly warns against involvement OneCoin business schemes, which at the discretion of the FCMC is modeled after the financial pyramid principles. Offers are made to engage in various Internet websites (such as www.onecoin.eu) or social sites, as well as OneCoin seminars organized in which citizens are called upon in financial transactions with unlicensed providers. For information about financial pyramids FCMC has given its website in advance (see. Http://www.fktk.lv/lv/klientu-aizsardziba/bridinajumi-par-nelicencetiem/79-2012-03-29-kas-jazina-par- financial-p.html ). 

We remind people that unlicensed merchants and other similar formations are not nationally monitored and interests of the population hence are not protected. Unlicensed business, calling for investment or attracting deposits or other repayable funds is a criminal offense.
 

People who are not professionals in the financial services sector, but wants to invest or deposit funds, we recommend you go to your bank or an investment brokerage company with a license. Such service providers are obliged to inform about the possible risks and ensure customer risk profile of an appropriate offer.
 

FCMC monitor only licensed operators who have received the appropriate license for the deposit or investment attraction. Only to those service providers customers protected by the state - both as consumers and as depositors.
 

FCMC invites every person who wants to use financial services to make sure that the potential service provider is entitled to provide such services. Information on all licensed service providers in Latvian can be found on the Commission's homepage under '' Operators' (web page address: www.fktk.lv).

Source: http://www.fktk.lv/lv/klientu-aizsardziba/bridinajumi-par-nelicencetiem/6087-atkaroti-bridinam-par-onecoin-sniegtajiem-pakalpojumiem.html

Update 11 December: Correction made: the previous warning was given in March, not in November.

2 comments:

  1. Hello Ari,

    This is very cool, what you do against OneCoin. I like cryptocurrencies and would like to help in protection cryptocurrencies against fraud like OneCoin.
    I want to make my own contribution to the fight against onecoin. I made onescam.com page. I would like to invite all people, who feel the same and i would like to unite people. Its better, to work togheter. More people - more ideas, more power.
    Maybe you can join too and we can do something toghether?
    Br, Robert

    ReplyDelete
    Replies
    1. The more the merrier. Keep up the good work!

      There are also some discussion boards providing information and news about this scam.

      In Finnish:
      http://murobbs.muropaketti.com/threads/onecoin-uusi-pyramidihuijaus-krp-rikosta-voidaan-arvioida-luotettavasti-vasta-myoehemmin.1197240/

      Swedish:
      https://www.flashback.org/t2546019

      Delete

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