The Saudi Capital Market Authority has put in guard against dealing with unlicensed forex companies, describing their offers as an “illusion”.
And the Capital Market Authority said in a tweet on his official “Twitter” page today Sunday: “Be careful not to drift behind the offers and temptations of unlicensed forex companies with financial gains and quick earnings.”
Unlicensed forex companies that engage in the business of trading securities in the foreign exchange market in Saudi Arabia follow new ways and methods used by unlicensed companies and people to promote their illegal activities.
عروضهم وهم .. احذرهم #الفوركس_غير_المرخص pic.twitter.com/q05TuaDxx1
— هيئة السوق المالية (@SaudiCMA) October 10, 2021
Previously, Saudi authorities have monitored companies adopting many, varied, and innovative ways and methods to inflict their victims on citizens and residents. In particular that the parties in infringement fabricate misleading press reports and headlines that include images of government officials and request registration in some government services and use official newspaper and commercial website slogans and pass their advertisements through these fake reports so that they appear to the public as if they are reliable, and they are in actually promotional ads that use the logos of those newspapers and sites web in an irregular way to promote their suspicious activities, and when the public clicks on the report – which is in the form of an advertisement – a new page is requested Contact information is requested With the person willing to invest their money, with the promise of quick financial gains, after which the process of fraud to the citizen and resident begins. Learn to trade from authentic traders and follow authentic websites for forex signals and trades.
The organizers of these deceptive advertisements also use stories false appearing on well-known websites in the Kingdom, taking advantage of a large number of visitors to these sites and giving answers to their stories to deceive them about the legitimacy of their work, as well as how to exploit the platforms of the social media both by using paid promotions and by promoting through personalities who have a strong presence in media. Social media suggest to the public that this activity enjoys legal legitimacy.
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