4.5 billion euros! This is the amount lost by the French in six years on illegal trading sites. An extravagant figure that can only arouse the suspicions of online traders, who are directly concerned by the scam phenomenon. Especially since the crooks are not yet ready to settle down
Numbers that terrify
Since savings no longer yield much, more and more individuals have embarked on online trading. A practice that is now known as “the” solution for making easy money, but which, behind its promises, also carries considerable risks. In particular, not all online trading portals are trustworthy and, moreover, even some so-called “regulated” brokers can practice aggressive trading techniques and collaborate with dubious platforms.
Many traders are trapped in this way. According to figures published by the Autorité des Marchés Financiers or AMF, the number of scams on trading portals has increased from 4 in 2010 to 360 in 2016. And over the last 6 years, the estimated losses have amounted to nearly 4.5 billion euros. An even higher figure than VAT fraud on carbon allowances, according to François Molins, Paris Public Prosecutor.
In fact, if online scammers have been able to get so much money from traders, it is because they are particularly smart. “Sign up and win up to €5,000 in bonuses”,”Make a €25,000 profit with only €100″… These are examples of sentences that can easily fall into the trap. Advertisements also tend to say that anyone can become a trader in 5 minutes, and some brokers offer trading robots to make so-called “safe” profits. But of course, it’s all a lie! And yet, no less than 44% of online advertisements on financial investments would now redirect to trading platforms. This would explain the rush of individuals to this sector.
Traders, be vigilant!
Currently, out of 500 victims, only about fifty cases are handled by the Paris Public Prosecutor’s Office. Even if they have been fooled, many traders decide not to file a complaint, either in the hope of recovering their money amicably or because their investments are not very legal. In any case, it should be remembered that only proper regulation by the AMF and ACPR Banque de France is a guarantee for French traders. So, despite more than attractive offers, audits must always come first.