OneCoin issued cease and desist by Austrian FMA
After observing violations the Banking Act (Bankwesengesetz), the Austrian Financial Market Authority has issued OneCoin with a cease and desist.
OneCoin stands accused of “carrying out (unauthorized) banking transactions” within Austria.
The FMA are Austria’s top securities regulator. The regulator identify OneCoin as a Bulgarian company, operating out of Sofia.
As per the Banking Act, the FMA may only issue a cease and desist if the offending party “has given cause for such action”. Although what specific violations OneCoin were observed carrying out in Austria is not specified.
Nonetheless, the FMA deem it necessary to warn the general public that OneCoin
is not entitled to carry out banking transactions in Austria that require a licence.
The provider is therefore not permitted to conduct the issuance and administration of payment instruments such as credit cards, banker’s drafts and traveller’s cheques on a commercial basis, with no limitation applicable to the term of crediting in the case of credit cards.
One possibility that comes to mind is OneCoin’s many shell companies using Austrian banking services to launder stolen investor funds.
In addition to the FMA cease and desist, Austrian Public Prosecutors announced a criminal investigation into OneCoin back in May.
The Austrian Consumer Protection agency also issued a separate warning against OneCoin investment in April last year.
As many ONECOIN follwers always say – its business as usual nothing suspect about this.
Just another hater that doesn’t understand we are the greatest crypt coin on the planet we are just too big for them!
How many leaks does this boat need before it sinks?
A map of the world which shows in which countries Onecoin is forbidden, authorities warned from it, and people got arrested would be interesting.
@Santa Maria: I’m not aware of any country in which fraud is legal, so for countries in which OneCoin is forbidden you would start with a map covered entirely in red – maybe with the exception of Somalia.
Then you would maybe colour some countries deep red for countries whose authorities have warned against it (i.e. countries where OneCoin has a noticeable presence) and leave the rest plain red (for countries where OneCoin isn’t sold to any significant disagree, or which don’t have any regulator which bothers to issue warnings).
Yes that’s right, I putted it the wrong way. The map should show where authorities have officially forbidden Onecoin in one color (red), where they have warned from it (yellow) and were people have been cuffed (black) 😉
Not a map (a little bit too laborious, nice idea however), but a list we try to keep up-to-date with official announcements: onecoinscam.info/prohibitions/
@OneCoinInsider
Thanks!
And the one country that would be a bright green for allowing OneCoin to continue would be ?????
You guessed it –Bulgaria !!!!!
MAYBE DUBAI-Bulgaria is a bit too obvious?
Actually is it 3 or 3.5 million members -Ignatova and Greenwood ought to consult before filming. At an average investment of 1000 Euros that is a variance of half a bill–now unnamed.
A real blockchain is self regulating through miners and does not require auditors -oh but you do not have a real blockchain.
Sorry lost in Lala land (a good film as opposed to this fiasco).
DEFECTIONS WILL ACCELERATE AS YOU NEED TO GET OUT OF IT AND EXPOSE THE AMBASSADORS –the travelling circus -primarily led by clowns like Wahlross, Zafir (Peace be with you).
For Posting of All Last – Scam Alerts News Here: youtube.com/watch?v=yhYdFDiySGU
BBC Panorama Investigates The OneCoin/OneLife Scheme!
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