Passivo has acquired a securities fraud warning from Austria.
The FMA warns traders towards concluding transactions with Passivo Ltd.
As per the FMA’s October 18th warning, Passivo “is just not authorised to hold out banking transactions in Austria that require a licence”.
FMA additional warns that, in mild of Passivo committing securities fraud, its enterprise operations are “not allowed”.
Passivo is a Dubai-based Ponzi scheme fronted by CEO Jan Lubberding.
Lubberding is a German nationwide hiding in Dubai.
Nonetheless, Passivo has already attracted the eye of German authorities. BaFin issued its personal Passivo securities fraud warning final month.
Of Passivo’s three identified web site domains, solely its .IO area is receiving any notable site visitors.
For the month of September 2023, SimilarWeb tracked prime sources of site visitors to Passivo’s .IO area as Switzerland (56%), Poland (10%), Ukraine (10%) and Germany (9%, down 61% month on month).
Securities in Switzerland are regulated by FINMA. Whether or not FINMA follows Germany and Austria with its personal Passivo fraud warning stays to be seen.