SageMaster has received a fraud warning from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF).
As per the
CSSF’s October 16th, 2025 SageMaster warning
;
The Commission de Surveillance du Secteur Financier (CSSF) warns the public about the activities of a company presenting itself under the name “Sagemaster”.
The company specifically targets a young audience, notably through promotional campaigns on social media, by promising the possibility of earning money easily and quickly using AI-based solutions.
The CSSF has been informed that certain young individuals in Luxembourg are actively promoting these services within the country to recruit new members.
In this context, these individuals claim that Sagemaster is authorised or supervised by the CSSF to provide such services in or from Luxembourg.
The CSSF emphasises that these claims are false, as Sagemaster is not supervised by the CSSF and therefore cannot legally provide these services.
The CSSF would also like to remind the public that trading in forex products and contracts for difference involves high risks, and that most retail investors are likely to lose all of the money they invest.
Offering unregistered financial services is a violation of Luxembourg’s financial laws. Falsely claiming SageMaster is registered with the CSSF would likely trigger additional fraud charges.
Be, or Be Club, is an
MLM pyramid scheme
committing securities fraud through its
SageMaster offering
.
In what appears to be an attempt at pseudo-compliance, visitors to SageMaster’s website are presented with the following disclaimer:
Notably the disclaimer fails to address SageMaster soliciting investment on the promise of a passive return, purportedly generated via automated AI trading.
SageMaster’s investment scheme constitutes a securities offering, which requires it to register with financial regulators in every jurisdiction Be Club solicits investment in.
Trading forex and cryptocurrency may also trigger commodities laws, depending on the jurisdiction (e.g. CFTC registration in the US).
A website disclaimer
is not
a substitute for legal compliance and filing of audited financial reports with financial regulators.
Be is
operated out of Dubai
by co-founders Monir, Moynul (Moyn) and Ehsaan Islam.
Monir and Moynul are former
OneCoin
Ponzi promoters.
In addition to Luxembourg, Be Club fraud warnings have been issued by
Quebec
(2020),
Colombia
(2022),
Norway
(2023),
Uruguay
(2023),
the Philippines
(2023),
New Zealand
(2024) and
Ontario
(2025).
In January 2025 Moynul Islam attempted to
downplay Be regulatory fraud warnings
. Moynul claimed it was “very common for most companies to get some level of warning and fines.”
As of September 2025, SimilarWeb was tracking ~13,500 monthly visits to Be Club’s website. Top sources of Be Club website traffic are Italy (69%), Colombia (13%), Switzerland 10%) and Canada (10%).
SimilarWeb tracked ~51,800 monthly SageMaster web
🤖 Quick Answer
What is the SageMaster fraud warning issued by Luxembourg's CSSF?On October 16, 2025, Luxembourg's Commission de Surveillance du Secteur Financier (CSSF) published an official warning against a company operating under the name "SageMaster." The CSSF alerted the public that SageMaster targets young audiences through social media, promising easy earnings via AI-based solutions, and is neither authorized nor supervised by the CSSF.
How does SageMaster recruit new members according to the CSSF warning?
The CSSF reported that SageMaster employs promotional campaigns on social media platforms specifically aimed at young individuals. Certain young people in Luxembourg have been actively promoting SageMaster's services within the country to recruit new members, falsely claiming the entity holds CSSF authorization or regulatory supervision.
**Is SageMaster connected to Be Club according
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