FSMA Warns of Fake Press Articles Promoting Fraudulent Trading Platforms

The Financial Services and Markets Authority (FSMA) has warned consumers about a growing scam technique involving fake news websites that impersonate well-known Belgian and international media outlets to promote fraudulent trading platforms.

According to the FSMA, fraudsters copy the branding, design and names of legitimate media such as Le Soir, La Libre, HLN and Euronews to make fake investment advertisements appear to be genuine news articles. The articles typically encourage readers to complete a contact form, after which they are contacted by operators of fraudulent trading platforms.

The fake articles may also misuse the identities of Belgian celebrities, politicians, business leaders and journalists. Fraudsters fabricate statements suggesting that these individuals have endorsed or used online trading platforms as a way to generate substantial profits.

In some cases, the scams refer to supposed incidents during television interviews or debates, claiming that a public figure revealed a secret investment strategy. Deepfake images and videos may also be used to make the fabricated stories appear more convincing.

The FSMA identified BitKeltTrade, operating through bitkelttrade.com, as a fraudulent trading platform. Several fake information websites were also found to redirect consumers to the platform.

The regulator stressed that the appearance of a well-known media outlet's name or logo, or the involvement of a public figure, does not guarantee that an investment offer is legitimate. Consumers should verify whether an investment provider is authorised before transferring money and remain cautious about promises of unusually high returns.