France: 25% of financial scams involve digital assets

The French Ombudsman said today that 25% of financial fraud in the country is related to cryptocurrencies. Moreover, most of the complaints to the Ombudsman come to crypto platforms that are not registered in France and offer murky investment schemes.

Based on the report, we can say that this figure has grown significantly in 2021. In 2020, the indicator was 6%, that is, an increase over 12 months. amounted to 19%. This indicates a sharp increase in fraud in this sector compared to traditional finance.

 

 

Ombudsman Marielle Cohen-Branche also warned investors that they should carefully consider the opportunities offered before investing. They make an independent choice, on which the result of investments will depend.

The ombudsman also warned that deceived investors cannot complain about crypto service providers that are not registered with the AMF national administration.

The French authorities can only initiate proceedings if the crypto platform is registered under French law and complies with KYC. And if an investor has invested in a foreign company without registering with AMF, then he makes this investment at his own peril and risk.

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CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources . Cryptocurrency is a high-risk asset, investing in it can lead to losses. Readers should do their own research before taking any action.

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