My Advertising Pays warning issued by Maltese regulator
As My Advertising Pays gears up to abandon Europe and focus on scamming people in Asia, the European fallout has begun.
On the 10th of November the Malta Financial Services Authority issued a warning concerning My Advertising Pays.
As per their website, the Malta Financial Services Authority ‘is the single regulator for financial services in Malta‘.
In their November 10th warning, the MFSA identify My Advertising Pays as a ‘marketing investment opportunity‘.
The Authority has become aware that this entity has undertaken marketing activities in Malta and that it has approached the public in order to invest with this entity.
The MFSA would like to alert the public that My Advertising Pays is not licenced or authorised by the MFSA to provide any type of financial service in Malta.
The above suggests the MFSA received complaints from the general public, likely after My Advertising Pays stopped paying investors a few months ago.
Furthermore, information available to the MFSA suggests that My Advertising Pays is likely to be a scheme of dubious nature with a high risk of loss of money.
The public should therefore refrain from undertaking any business or transactions with the above-mentioned entity.
As per My Advertising Pays’ business model, the company solicits $49.99 investments on the promise of a $60 ROI.
Having collapsed twice already, My Advertising Pays is now attempting to relaunch itself in Asia.