The Malta Financial Services Authority has issued a general warning about unsolicited calls or social media messages from individuals representing foreign entities and promoting investment services opportunities including Forex/FX trading and Crypto trading.

The MFSA said that the entities involved were not licensed or authorised by the MFSA to provide any financial services which are required to be licensed under Maltese law.

The authority advised consumers of financial services to be extra cautious when being approached with offers of financial services, particularly offers relating to Forex/FX trading and Crypto trading via unconventional channels such as unsolicited telephone calls or social media private messages.

The MFSA also recommended that consumers also inform the elderly and those who were less knowledgeable in financial services and who may be more prone to fall victim to such offers.

It reminded customers not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator.

A list of entities licensed by the MFSA can be viewed on the official website of the MFSA at https://www.mfsa.mt/financial-services-register/.

Victims of a scam or those who think they might be dealing with an unauthorised entity or any other type of financial scam, should contact the MFSA through https://www.mfsa.mt/about-us/contact/ as soon as a suspicion arises.

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