Dubious Investments: BoM and FSC Call for Public Vigilance

The Bank of Mauritius (BoM) and the Financial Services Commission (FSC) are warning the public about the rise of unregulated investment opportunities that are widely circulated on social media and other informal channels. These offers primarily involve financial services and products, as well as virtual assets, commonly referred to as cryptocurrencies, which promise high returns in short periods.

Regulators urge consumers to remain vigilant and to recognize certain warning signs. These include investment plans that promise unrealistic profits in a brief timeframe, the use of aggressive sales tactics, or pressure to make payments through unusual and hard-to-trace methods. Other suspicious characteristics include an emphasis on recruiting new investors in exchange for commissions, as well as a lack of transparency regarding the actual workings of the proposed programs.

The BoM and FSC also emphasize that many of these schemes primarily exist on social media platforms, without identifiable physical presence, or are promoted by influencers offering training and seminars aimed at attracting investors.

Before making any commitments, it is advised to check the official sites of the BoM and FSC to verify whether the concerned entities or individuals are duly licensed or registered. Consumers are encouraged to seek advice and understand the associated risks. Any suspicious activity should be reported.