Belgian financial regulator: Nearly half of all illegal financial services complaints in 2018 related to cryptocurrency and pyramid schemes

According to Finance Feeds, the Belgian Financial Services and Markets Authority (FSMA) released its 2018 annual report earlier today. According to the report, in 2018, FSMA received a total of 2066 consumer complaints related to financial services, which was 20% higher than the number of 1710 questions and complaints in 2017. Nearly half (998) of all such surveys in 2018 involved fraudulent schemes and illegal provision of financial products and services, primarily related to cryptocurrencies and pyramid schemes.