The Australian Securities and Investments Commission has issued a securities fraud notice to CashFX Group.
On October 6th, ASIC identified the Ponzi scam as a “suspicious investment proposition.”
Cash FX Group, commonly known as ‘Cash Forex Group’ or ‘CFX,’ is not regulated in Australia to provide financial services.
In other countries, this is analogous to a securities fraud warning.
Do not send funds (or more funds) to Cash FX Group.
Contact your banking institution right away to see if they can help you track down payments.
Unfortunately, there is less probability of retrieving money when payments are made using crypto-assets.
You do not need to file a report with ASIC since we have enough information at this time.
ASIC is likewise unable to help you reclaim your money.
ASIC is exceedingly unlikely to issue a securities fraud notice to an MLM firm.
Australia is the eighteenth country to issue a warning against CashFX Group’s securities fraud.
Portugal, Sweden, Ireland, South Africa, the Philippines, Belgium, New Zealand, Jersey, Canada (New Brunswick, Manitoba, Saskatchewan, Quebec, and British Columbia), Panama, the Bahamas, Norway, and the United Kingdom have all issued similar warnings.
CashFX Group is run by Huascar Lopez from the Dominican Republic.
It should be mentioned that CashFX Group has announced the establishment of a headquarters in Panama.
The number of visitors to CashFX Group’s website is decreasing. Nigeria (23%), Australia (15%), and the United States (13%), according to Alexa, are the leading sources of traffic.
To date, authorities in the United States, Nigeria, the Dominican Republic, and Panama have failed to prosecute Lopez or his co-conspirators.