FSMA Warns Against Fraudsters Impersonating Trade Republic, Wise Europe, and Major Banks

The Belgian Financial Services and Markets Authority (FSMA) has renewed its warning regarding fraudsters who unlawfully misuse the names and identities of well-known banks and financial institutions to deceive consumers. Despite previous warnings issued on this practice since 2021, these fraudulent schemes continue to target consumers. The scam commonly begins with unsolicited contact via telephone or email, or after consumers submit their personal details into online forms found through social media, promotional campaigns, or sponsored ads. Fraudsters present fraudulent savings formulas offering returns higher than market rates combined with capital guarantees. In all cases, victims lose their invested funds. According to reports received by the FSMA, scammers have impersonated several reputable financial entities using specific unauthorized websites and email domains: - Trade Republic Bank: Impersonated via the website https://web.app-traderepublic.com/ and email addresses ending in @contact-republic.com, @gestion-republic.com, and @traderepublic-inv.com. - Wise Europe: Impersonated via the website https://acces.wtb-management.com/ and email addresses ending in @wtb-privatemanagement.com, @wiseconformite.com, and [email protected]. - Axa Banque: Impersonated via email addresses ending in @axa-europe-patrimoine.com. - Banque Transatlantique: Impersonated via email addresses ending in @transatlantique-patrimoine.com. - ING Bank: Impersonated via the email address [email protected]. - Caixabank and Deutsche Bank: Also reported to the FSMA as names exploited by fraudsters. The FSMA notes that scammers may also misuse names of other financial institutions and use similar deceptive tactics to offer fake credit products that require upfront fee payments. To avoid falling victim to these schemes, the FSMA advises consumers to be cautious of unsolicited investment propositions, especially those promising excessive or unrealistic returns. Investors should always verify the legitimacy of a company, its official website, and email addresses by consulting the official registers maintained by the FSMA or the National Bank of Belgium. Caution is also advised if requested to transfer funds to bank accounts located in jurisdictions with no connection to the consumer or the company's supposed headquarters. For individuals who may have fallen victim to these scams, the FSMA strongly warns against making any additional payments, even if the fraudsters promise a refund upon payment of an additional fee. Victims are urged to immediately file a report with local police and notify the FSMA with full documentation.