Belgium’s Financial Services and Markets Authority has issued an Intelligence Prime Capital fraud warning.

The FSMA cites Intelligence Prime Capital as a “new fraudulent trading platform”. A bit odd considering the Ponzi scheme collapsed in
February 2022
.

As per the FSMA’s June 5th warning;

During the past few weeks, the FSMA has continued to receive complaints from consumers concerning new fraudulent trading platforms that are operating in the Belgian market.

After clicking on the ad or downloading the mobile app and having given their contact details, the victims are usually swiftly called by fraudsters presenting a specific investment proposal (in shares, alternative investment products, virtual currencies, etc.).

Other trading platforms contact consumers through dating apps and fake social media accounts. Furthermore, many trading platforms use WhatsApp and Telegram.

The FSMA notes that several fraudulent trading platforms offer a so-called ‘affiliate programme’ to consumers. These programmes exhibit signs of a pyramid scheme.

These platforms act very aggressively. They often claim to hold an authorization by a fake financial authority, displaying it so as to seem trustworthy.

The fraudsters also try to convince the victims to invest increasingly higher amounts of money.

They also make promises of repayment in exchange for one last money transfer. This is a technique to collect even more money from their victims.

These are most likely cases of investment fraud. Fraudsters not only act without the necessary authorizations, but they also divert the investors’ funds. In such cases, investors are unable to recover their money because these illegal service providers are generally located abroad.

The FSMA goes on to
list Intelligence Prime Capital
along with a bunch of other trading scams (I didn’t recognize any of the others).

I thought maybe scammers were promoting a new iteration of Intelligence Prime Capital. The FSAA list IPC’s original website domain however, which is currently listed for sale.

Intelligence Prime Capital
was a Boris CEO Ponzi scheme that surfaced in late 2021.

Withdrawals
stopped
in February 2022, with IPC going on to execute a
“regulators!” exit-scam
in March.

IPC token
was introduced as a reload scam in April but collapsed shortly after launch.

Since then there have been no further Intelligence Prime Capital updates… but uh apparently in Belgium it’s a “new” scam.

Not sure what’s going on in Europe but the FSAA’s warning follows a similarly belated
IPC fraud warning from Ireland
last month.

Other than noting them for completeness, not really sure what the value is in issuing from warnings over a year after an MLM Ponzi has collapsed.

🤖 Quick Answer

What is the FSMA's alert regarding Intelligence Prime Capital?
Belgium's Financial Services and Markets Authority issued a fraud warning against Intelligence Prime Capital, designating it as a fraudulent trading platform. The alert warns consumers about deceptive investment solicitations involving shares, alternative products, and cryptocurrencies, often initiated through advertisements, mobile apps, and dating platforms.

How do fraudsters operating these platforms typically contact victims?
Fraudsters employ multi-channel approaches including online advertisements and mobile applications. After obtaining contact details, they contact victims directly via phone to present investment proposals. Additionally, they utilize dating apps as communication channels to reach potential targets in the Belgian market.

What pattern characterizes these fraudulent schemes?
Victims are initially attracted through digital channels and marketing materials. Upon providing personal information, they receive unsolicited calls proposing various investment opportunities. The schemes typically involve fake trading platforms targeting retail consumers with promises of returns in financial instruments or

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