A get-rich scheme which is not regulated to conduct financial services in Ireland has been promoted online to attract investors despite warnings from the Central Bank.
CashFX purports to teach people to trade in cryptocurrency markets. The Central Bank issued a warning about the Panama-based group last year to say it was operating in the absence of appropriate authorisations, which is an offence.
The financial authority advised the public to be aware that they were not eligible for compensation from the Investor Compensation Scheme. The UK’s Financial Conduct Authority has issued similar warnings.
CashFX, sometimes referred to as CFX, is a multi-level marketing platform that provides investors with an opportunity to earn money through referral commissions and return on investments. Experts have described it as
