GREAT BAY--The Centrale Bank van Curaçao en St. Maarten (CBCS) has issued a new, targeted warning for St. Maarten, cautioning the public about fraudulent and unlicensed investment activities being actively promoted across the country. The January update follows an earlier public warning issued by the CBCS in October.
According to the CBCS, unlicensed investment offers are currently being advertised and circulated both offline and online, including through billboards as well as platforms such as YouTube, LinkedIn, Facebook, and other digital and social media channels.
Recently several billboards have popped up along the road sides of St. Maarten promising big returns on investment into schemes. Though the Central Bank was not specific in identifying fraud, the public has questioned these schemes for quite some time including how it was possible to obtain a permit or permission to use a permitted billboard location for such schemes.
The Central Bank said these schemes often involve individuals or entities presenting themselves as experienced or professional investment advisers while promoting high-return investment opportunities.
The CBCS urged residents to exercise extreme caution when approached by any investment provider that is not licensed. The Bank emphasized that offers promoted online, especially those promising guaranteed returns or unusually high profits, should be treated as a major warning sign.
The Central Bank also issued specific advice for persons who may have already engaged with such providers. The CBCS is urging anyone who has invested, transferred funds, or otherwise participated in a suspected unlicensed investment scheme on St. Maarten to report the matter, even if the investment is still ongoing or if no losses have yet occurred.
Suspected or actual involvement with unlicensed investment providers should be reported to the CBCS via email at info@centralbank.cw or by telephone at +1 (721) 542-3520. The CBCS further advised affected persons to also file a report with the police.
The CBCS called on the public to remain vigilant, share the warning within their networks, and regularly verify whether financial institutions are licensed to operate in Curaçao and St. Maarten by consulting the CBCS website’s list of supervised institutions.
https://tribune-site.webflow.io//articles/central-bank-warns-st-maarten-public-about-fraudulent-investment-schemes
