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FSMA Issues Warning Against Suspected Fraudulent Platform Levels Socials
Belgium's Financial Services and Markets Authority (FSMA) has issued a warning against Levels Socials, identifying it as an unauthorized entity and a suspected fraudulent trading platform.
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The Financial Services and Markets Authority (FSMA) of Belgium has issued a public warning regarding the activities of Levels Socials, confirming that the entity is operating unlawfully within Belgian territory.
According to the financial regulator, Levels Socials does not hold authorization to provide investment services or financial products in Belgium. The FSMA strongly advises the public against accepting any financial service offers from this entity and warns against transferring money to any bank accounts provided by the firm.
Based on findings by the FSMA, Levels Socials is suspected of operating as a fraudulent online trading platform. Such schemes typically lure consumers with promises of quick and effortless profits. In reality, these operations are organized investment scams designed to defraud investors, often leading to total loss of deposited capital.
As a result of these unauthorized activities, the FSMA has formally added Levels Socials to its list of known fraudulent trading platforms.
The regulator advises anyone who has interacted with Levels Socials to stop all transactions immediately, cease all communication, and refuse to provide additional personal or financial data. Victims should contact their financial institution without delay, report the case to law enforcement and the FSMA, and preserve all relevant documentation and transaction records. The authority also cautions against secondary recovery room scams, where fraudsters contact previous victims offering to recover lost funds for an upfront fee.