Thursday 20 January 2022

Financial regulator warns about ‘crowdfunding’

The financial services regulator AFM is warning consumers to be well prepared before joining a ‘crowdfunding platform’, a form of investment in small-scale projects which lies outside the regulated banking sphere.

Such platforms are banned from acting as banks and are not allowed to keep hold of investment cash for longer periods, the AFM said. In addition, in some instances the platforms need special licences to operate.

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