Norwegian authorities have issued a third CashFX Group fraud warning.

The Financial Supervisory Authority of Norway’s notice follows a warning from the Lotteries Authority earlier this year.

As per the
Financial Supervisory Authority’s October 20th warning
;

In Norway, CFX Team Norway, among others, markets the company’s operations.

The company is not licensed to offer investment services in Norway, and Finanstilsynet warns consumers against investing through Cash FX.

If you invest in this company, you could risk losing all your money.

Finanstilsynet, as the FSA is known in Norwegian, issued a
similar CashFX Group securities fraud warning
in November 2020.

This was followed by the Lotteries Authority issuing a
CashFX Group illegal pyramid scheme warning
in February.

We get many tips and inquiries with questions about whether Cash FX can be an illegal pyramid scheme.

Based on the information we have received so far, we see that it has several similarities with illegal pyramid schemes

Our best advice is to stay away from this company.

In addition to Norway, eighteen jurisdictions have issued CashFX Group fraud warnings. The latest of which Daily Exposed reported on was
Singapore
just over a week ago.

Huascar Lopez operates CashFX Group from the Dominican Republic.

It is noted CashFX Group recently announced it had opened up a head office in Panama.

Traffic to CashFX Group’s is in decline. Alexa’s ranked top sources of traffic are Nigeria (20%), Australia (20%) and the US (13%).

The Australian Securities and Investments Commission
issued a CashFX Group securities fraud warning
on October 6th.

To date authorities in the US and Nigeria, as well as the Dominican Republic and Panama, have failed to take action against Lopez or his co-conspirators.

Update 20th November 2021 – 
The Norwegian Consumer Agency (Forbrukertilsynet), has issued a press-release stating they agree with the Financial Supervisory Authority’s and Lotteries Authority’s warnings.

🤖 Quick Answer

What fraud warnings has CashFX Group received in Norway?
Norwegian authorities have issued three fraud warnings against CashFX Group. The Financial Supervisory Authority warned in October 2020 and again in November that year. The Lotteries Authority issued an illegal pyramid scheme warning in February. The company lacks licensing to offer investment services in Norway.

Who markets CashFX Group operations in Norway?
CFX Team Norway is among the entities marketing CashFX Group's operations within Norwegian territory. These marketing efforts target Norwegian consumers despite the company lacking proper regulatory authorization from Norwegian financial authorities.

What risks do Norwegian investors face with CashFX Group?
Investors in CashFX Group face significant financial risk, including potential loss of all invested capital. Norwegian authorities explicitly warn consumers against investing through the unlicensed company, which operates without proper authorization from the Financial Supervisory Authority.

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