{"id":22703125,"date":"2026-05-10T08:41:18","date_gmt":"2026-05-10T05:41:18","guid":{"rendered":"https:\/\/fra.gov.eg\/fra_news\/%d8%a7%d8%ad%d8%b0%d8%b1-%d9%85%d9%86-%d8%a7%d9%84%d9%86%d8%b5%d8%a8-%d8%a8%d8%af%d8%b9%d9%88%d9%89-%d8%aa%d8%ad%d9%82%d9%8a%d9%82-%d8%a3%d8%b1%d8%a8%d8%a7%d8%ad-%d8%ae%d9%8a%d8%a7%d9%84%d9%8a%d8%a9\/"},"modified":"2026-05-10T14:23:40","modified_gmt":"2026-05-10T11:23:40","slug":"%d8%a7%d8%ad%d8%b0%d8%b1-%d9%85%d9%86-%d8%a7%d9%84%d9%86%d8%b5%d8%a8-%d8%a8%d8%af%d8%b9%d9%88%d9%89-%d8%aa%d8%ad%d9%82%d9%8a%d9%82-%d8%a3%d8%b1%d8%a8%d8%a7%d8%ad-%d8%ae%d9%8a%d8%a7%d9%84%d9%8a%d8%a9","status":"publish","type":"fra_news","link":"https:\/\/fra.gov.eg\/en\/fra_news\/%d8%a7%d8%ad%d8%b0%d8%b1-%d9%85%d9%86-%d8%a7%d9%84%d9%86%d8%b5%d8%a8-%d8%a8%d8%af%d8%b9%d9%88%d9%89-%d8%aa%d8%ad%d9%82%d9%8a%d9%82-%d8%a3%d8%b1%d8%a8%d8%a7%d8%ad-%d8%ae%d9%8a%d8%a7%d9%84%d9%8a%d8%a9\/","title":{"rendered":"FRA Warns Citizens: Avoid Unlicensed Platforms and Entities Promising Unrealistic Returns &#8211;\u00a0 Friday 8 May 2026"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>Dr. Islam Azzam, FRA Chairman:<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #800000;\">Awareness is the primary defense against traps of digital fraud.<\/span><\/li>\n<li><span style=\"color: #800000;\">FRA warns against false promises and urges citizens to verify licenses to protect their savings<\/span>.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>Hamdy Badawy, Assistant to Chairman:<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #800000;\">FRA is exercising its law enforcement powers and monitoring unlicensed platforms to safeguard investor funds.<\/span><\/li>\n<li><span style=\"color: #800000;\">We are tracking the latest fraud patterns through a top-tier complaint and monitoring system<\/span><strong>.<\/strong><\/li>\n<\/ul>\n<p style=\"text-align: justify;\">The Cabinet Media Center has released a new educational video highlighting the dangers of deceptive advertisements that promise unrealistic returns or easy access to financing. The video warns citizens against falling prey to unlicensed entities and platforms that lure individuals into depositing or investing funds without the necessary regulatory approvals from the Financial Regulatory Authority (FRA).<\/p>\n<p style=\"text-align: justify;\">FRA has identified several such entities and advertisements utilizing fraudulent tactics to entrap citizens. Engaging with these platforms can lead to total loss of funds, personal data theft, and the forfeiture of legal rights, as there is no regulatory oversight to protect participants.<\/p>\n<p style=\"text-align: justify;\">Verifying a provider\u2019s license has become a simple process. Citizens can search FRA website by entity name or activity type, or submit an inquiry via the dedicated email address. Additionally, FRA has introduced a &#8220;Negative List&#8221; (available at: <a href=\"http:\/\/services.fra.gov.eg\/alerts\">http:\/\/services.fra.gov.eg\/alerts<\/a> ), which includes \u00a0unlicensed entities, websites, and social media pages identified through public reports. The Authority also maintains an updated directory of licensed non-banking financial institutions, allowing citizens to ensure the legitimacy of an entity before engagement.<\/p>\n<p style=\"text-align: justify;\">The video stresses the necessity of ignoring links from unknown sources and strictly advises against sharing banking details or One-Time Passwords (OTPs). It also emphasizes using digital security measures, such as enabling multi-factor authentication and updating passwords regularly.<\/p>\n<p style=\"text-align: justify;\">Furthermore, the Cabinet Media Center urges individuals to report fraud attempts immediately via FRA hotline (19669) or the dedicated whistleblower email (<a href=\"mailto:whistleblowing@fra.gov.eg\">whistleblowing@fra.gov.eg<\/a>). \u00a0Victims are advised to contact the Internet Police and take urgent action by notifying their bank or finance company to freeze accounts if data has been compromised.<\/p>\n<p style=\"text-align: justify;\">The video concludes by affirming that caution and awareness are the best defenses against fraud, noting that FRA remains a key partner in protecting consumer rights and fostering trust in non-banking financial markets.<\/p>\n<p style=\"text-align: justify;\">*<strong>Monitoring Emerging Criminal Patterns<\/strong><\/p>\n<p style=\"text-align: justify;\">Dr. Islam Azzam, FRA Chairman emphasized that enhancing financial literacy is the primary line of defense against fraud, particularly given the rapid expansion of fintech and the resulting emergence of sophisticated illicit practices.<\/p>\n<p style=\"text-align: justify;\">\u00a0He explained that education must evolve alongside technological progress, as higher financial literacy enables individuals to distinguish between legitimate investment opportunities and fraudulent schemes built on unrealistic promises.<\/p>\n<p style=\"text-align: justify;\">The Chairman added that the Authority is continuously developing an integrated suite of regulatory and educational tools to stabilize non-banking financial markets and provide a secure environment. He urged citizens to exercise caution, verify licenses before any transaction, and avoid being misled by deceptive advertising.<\/p>\n<p style=\"text-align: justify;\">In a related statement, Mr. Hamdy Badawy, Assistant to Chairman, noted in a televised interview with &#8220;Extra News&#8221; that FRA\u2019s role is to regulate and supervise the non-banking financial sector, including capital markets, insurance, and consumer finance. He warned that the absence of oversight in any investment activity means there is no audit of financial statements or guarantees for participant rights, exposing citizens to grave risks.<\/p>\n<p style=\"text-align: justify;\">He further explained that scammers employ several tactics to entrap victims, starting with attractive ads promising high returns. They often provide small &#8220;fake&#8221; profits initially to gain trust, sometimes even returning the principal amount upon request in the early stages to encourage the victim to invest larger sums or recruit others.<\/p>\n<p style=\"text-align: justify;\">Badawy noted that the Authority counters these practices through a high-level complaint and follow-up system, monitoring unlicensed entities and websites by specialized units, and the activation of law enforcement powers to take legal action against violators. This is in addition to publishing &#8220;negative lists&#8221; and educating citizens on the necessity of avoiding any untrusted platforms or applications not registered in the Authority\u2019s registries.<\/p>\n<p style=\"text-align: justify;\">In light of these awareness efforts, Financial Regulatory Authority (FRA) reaffirms its commitment to strengthen communication channels with the public and intensify awareness campaigns to combat emerging fraudulent methods, thereby establishing a secure financial environment based on transparency and trust.<\/p>\n<p style=\"text-align: justify;\">The Authority also renews its call for all participants to remain vigilant and not hesitate to inquire about or report any suspicious practices, believing that partnership between citizens and regulatory bodies is the cornerstone of protecting savings and supporting the stability and growth of non-banking financial markets in Egypt.<\/p>\n","protected":false},"author":124,"featured_media":22703083,"parent":0,"template":"","format":"standard","categories":[142,144],"tags":[3791,3910,4858,4859],"fra_news_taxonomy":[2137,2138],"news_paper_taxonomy":[],"_links":{"self":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news\/22703125"}],"collection":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news"}],"about":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/types\/fra_news"}],"author":[{"embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/users\/124"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/media\/22703083"}],"wp:attachment":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/media?parent=22703125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/categories?post=22703125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/tags?post=22703125"},{"taxonomy":"fra_news_taxonomy","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news_taxonomy?post=22703125"},{"taxonomy":"news_paper_taxonomy","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/news_paper_taxonomy?post=22703125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}