The AMF and the Paris Public Prosecutor's Office urge retail investors to be extremely vigilant regarding Immediate Connect's fraudulent investment offer in crypto-assets
Following an initial public warning issued by the Autorité des Marchés Financiers (AMF) last June, the regulator continues to receive numerous enquiries and complaints from retail investors about this fraudulent automated trading offer, on Forex or in crypto-assets, which appears to be continuing via new websites. The AMF and the Paris Public Prosecutor's Office are working hard to put a stop to this behaviour.
On 23 June, the AMF reported on investor reports and urged investors to be extremely vigilant about the automated trading service offered by Immediate Connect, which is being promoted on the Internet and social networks by advertisements and fake articles impersonating celebrities and news websites.
The retail investors told the AMF's public relations centre, Epargne Info Service, that they found out about the automated trading service through an article on the Internet purporting to be published by a major national daily, reporting an alleged interview with a famous television presenter on a programme extolling the merits of the service. After filling in their details on an online contact form, the interested parties were quickly contacted by a so-called financial adviser who encouraged them to register on an unauthorised trading platform to invest in the foreign exchange market (Forex), in crypto-assets such as bitcoin, or in derivatives on crypto-assets. But when it came to reclaiming their alleged gains, they were asked to pay a so-called capital gains tax beforehand.
Since 23 June, the AMF has received new requests and complaints from retail investors concerning similar fraudulent offers made through new Internet addresses, which appear to be "clones". Some of these have already been added to the authority's blacklists. Others are in the analysis phase.
Addresses added to AMF blacklists:
- Immediateconnect.co
- Immediateconnect.ai
- The-immediateconnect.com
- Immediate-connect.com
- Immediategranimator.org
- Immediategranimator.com
- Immediategranimator.io
- Immediateconnect.org
- Immediateconnect.me
- Immediateconnect.com
- Julinfob.com/offers/OatdymOocb/Granimator-fr-v2qq
- Granimator.org
- Augworldi.com/OatdymOocb/Granimator-fr-v2qq
- Immediatebitcoin.io
- Granimator.me
- Granimator.live
- Quantumprimeprofit.io
- Quantum-ai.io
At a hearing held by the Paris Court of First Instance on 9 October, a number of websites linked to these offers were blocked at the request of the AMF. Access to the sites in question must be blocked from French territory and/or by subscribers of the various Internet service providers as soon as possible and no later than 15 days from the date of notification of the judgement. Other internet addresses may be the subject of new blocking requests to the court at future hearings.
The rulings handed down by the judge on 23 October concern:
- immediateconnect.ai
- www.immediateconnect.ai
- immediateconnect.co
- www.immediateconnect.co
- the-immediateconnect.com
- www.the-immediateconnect.com
- immediateconnect.com
- www.immediateconnect.com
The AMF points out that only companies authorised as investment services providers in the European Union are permitted to offer brokerage services such as automated or non-automated trading in forex or derivatives on crypto-assets. Only digital asset service providers (DASPs) registered with the AMF are authorised to offer the purchase and sale, custody or trading of crypto-assets to the French public via promotional communications.
The Paris Public Prosecutor's Office points out that the habitual provision of investment services to third parties by an unauthorised legal entity is an offence punishable by a fine of €1,875,000, and the illegal provision of investment services to third parties as a regular occupation is punishable by 3 years' imprisonment for an individual. These actions may also constitute the offence of fraud in an organised gang, punishable by 10 years' imprisonment and a fine of €1 million for an individual and a fine of €5 million for a legal entity.
More generally, the AMF encourages retail investors to apply a few rules of vigilance before investing:
- Beware of unrealistic promises from trading sites guaranteeing quick profits;
- Avoid Forex, the unregulated currency market, where there is a high risk of losing more than the amount invested;
- Check that the company is authorised to offer financial services and is not on one of the AMF's blacklists.
About the AMF
The AMF is an independent public authority responsible for ensuring that savings invested in financial products are protected and that investors are provided with adequate information. The AMF also supervises the orderly operations of markets.Visit our website https://www.amf-france.org/en
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