JEDDAH — The Saudi Ministry of Commerce (MoC) issued a extreme warning, via its official account on Twitter, in opposition to International Trade Market (FOREX).
The ministry said: “Don’t lose your cash due to your dealings with individuals or entities who promote unlicensed international alternate transactions.”
The international alternate market’s marketplace for buying and selling securities is witnessing a world attain. It’s luring buyers who’re unaware of the regulatory atmosphere and are usually not cognizant of the hazards of risking their cash on unlawful platforms.
Apart from an absence of appropriate ensures to take care of and safe shopper funds, the whole share capital could be misplaced on account of such an endeavor, the ministry warned.
With the onset of those investments, the Saudi Central Financial institution, the Capital Market Authority (CMA), and the Ministry of Commerce launched an consciousness marketing campaign to guard society from the hazards of coping with suspicious web sites that market to put money into securities with out acquiring the mandatory licenses from competent authorities.
They’re additionally together with examples of how unlicensed or fraudulent firms or people function, in addition to insights of their progressive strategies for attracting their victims into unlawful international alternate or cryptocurrency markets.
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