CashFX Group has obtained a securities fraud warning from the Financial institution of Portugal.
As per the Financial institution of Portugal’s twenty seventh September warning;
Money Fx Group S.A.” with headquarters in Panamá, working via the web site cashfxgroup.com, is just not, and by no means was, authorised to hold out in Portugal any monetary exercise topic to the supervision of Banco de Portugal.
The Financial institution of Portugal is a top-tier monetary regulator. Their warning is the equal of a securities fraud discover in different jurisdictions.
Portugal is the seventeenth jurisdiction to problem a securities fraud warning towards CashFX Group.
The Financial institution of Portugal’s warning follows related regulatory motion by Sweden, Eire, South Africa, the Philippines, Belgium, New Zealand, Jersey, Canada (New Brunswick, Manitoba, Saskatchewan, Quebec and British Columbia), Panama, the Bahamas, Norway and the UK.
Huascar Lopez operates CashFX Group from the Dominican Republic.
It’s famous CashFX Group just lately introduced it had opened up a head workplace in Panama.
Site visitors to CashFX Group’s is in decline. Alexa’s ranked prime sources of site visitors are Nigeria (26%), Australia (17%) and the US (10%).
Up to now authorities within the these nations, in addition to the Dominican Republic and Panama, have didn’t take motion towards Lopez or his co-conspirators.
Replace seventh December 2021 – This text initially contained a Panama workplace advertising and marketing video, hosted on CashFX Group’s official YouTube channel.
CashFX Group’s YouTube channel was just lately terminated. As such I’ve eliminated the beforehand accessible hyperlink.
Replace 18th January 2023 – Portugal’s Comissão do Mercado de Valores Mobiliários has additionally issued a CashFX Group securities fraud warning.