Deceptive Website Warning — Crypto Service Authority(cryptoservauthority.com)

Dear investors, you need to take heed of this serious deceptive website warning. There is a fictitious website posing as a legitimate broker regulatory body. The cryptoservauthority.com website, which belongs to an entity known as “Crypto Service Authority” appears in many dubious online trading platforms, including Flaregain(flaregain.io), falsely as a regulator. It’s safe to say that any broker that claims to be regulated by Crypto Service Authority is a red flag. 

The Significance of Regulatory Oversight for Financial Brokers

As I stated in this post, the law requires brokers to register, obtain a license, and submit to the oversight of the regulatory authority in charge of their specific market jurisdictions. The importance of broker regulatory oversight is that it helps ensure market integrity, investor protection, as well as compliance, and accountability. Any broker that operates without regulation is a big red flag and a no-go zone.   

Deceptive Website Warning —  The Hidden Truth About CRYPTOSERVAUTHORITY.COM  

Here’s what you need to know about Crypto Service Authority(cryptoservauthority.com):

This purported regulatory body is not officially and legally recognized as a financial services regulator. There is no mention of it anywhere among the well-known broker regulatory bodies. It’s either an unofficial or a fictitious broker regulator with the latter being more likely to be the case, given that it vouches for well-known scam brokers such as Flaregain(flaregain.io).

There are many questionable entities claiming to offer regulatory oversight for brokers. While these firms normally portray themselves as consumer protection bodies, they lack the credibility of recognized regulatory bodies. 

Similarly, there are many fake regulatory bodies established by scammers to vouch for their dubious online trading platforms. Below are the recognized regulatory bodies globally. 

Recognized Regulatory Bodies Worldwide

Any purported broker not authorized or regulated by one of these regulatory bodies is a big red flag:

1. North America

• The U.S. Securities and Exchange Commission (SEC).
• The Commodity Futures Trading Commission (CFTC).
• The Financial Industry Regulatory Authority (FINRA).
• The Office of the Comptroller of the Currency (OCC).
• The Federal Reserve (Fed).
• The Investment Industry Regulatory Organization of Canada (IIROC).
• The Canadian Securities Administrators (CSA).

2. South America

• Comissão de Valores Mobiliários (CVM) do Brasil.
• Comisión Nacional Bancaria y de Valores (CNBV) de México.

3. Europe

• The European Securities and Markets Authority (ESMA).
• The European Central Bank (ECB).
• The European Banking Authority (EBA).
• The Financial Conduct Authority (FCA).
• The Prudential Regulation Authority (PRA).
• The Federal Financial Supervisory Authority (BaFin).
• Autorité des Marchés Financiers (AMF).
• The Swiss Financial Market Supervisory Authority (FINMA).
• The Netherlands Authority for the Financial Markets (AFM).

3. Asia–Pacific

• The Japanese Financial Services Agency (FSA).
• The Securities and Futures Commission (SFC) of Hong Kong.
• The Australian Securities and Investments Commission (ASIC).
• The Monetary Authority of Singapore (MAS).
• The Securities and Exchange Board of India (SEBI).

4. Middle East

• The United Arab Emirates Securities and Commodities Authority (SCA).

5. Africa

• The Financial Sector Conduct Authority (FSCA) of South Africa.
• The Capital Markets Authority of Kenya.

6. Caribbean

• The Financial Services Authority (FSA) of Seychelles.
• The Securities Commission of The Bahamas (SCB).
• The Barbados Financial Services Commission (FSC).
• The Cayman Islands Monetary Authority (CIMA).
• The British Virgin Islands Financial Services Commission (BVIFSC).
• The Jamaica Financial Services Commission (FSC).

Final Thoughts 

One of the latest tactics scammers use to deceive the public involves fake regulatory scams. These scammers, masquerading as legitimate brokers, claim to be regulated by fictitious “regulatory bodies.”

In this deceptive website warning post, we shine a bright spotlight on Crypto Service Authority, which operates under the domain cryptoservauthority.com. This is because many fraudulent online trading platforms, including Flaregain(flaregain.io), claim regulation with it.

As I stated in this post, Crypto Service Authority is not a legally recognized financial services regulatory body, and therefore, it has no legitimate mandate to authorize or regulate brokers. As such, you should never trust any broker that claims authorization with it. Further, be sure to check the trust record of the broker with the appropriate regulator on the list above. If you find bad feedback or nothing, steer clear of the broker. 

Would You Like To Report a Fraudulent Broker?

If you think you’ve been defrauded, go to this page to report the incident and seek help. You may also send an email to scamread@scamreader.info.