The Moroccan Capital Market Authority (AMMC) issued a public warning urging heightened vigilance as it has detected an increase in unauthorised financial investment advice and the re-emergence of potentially fraudulent trading platforms, including activity promoted via social media. The AMMC reminded the public that providing financial investment advice is strictly regulated under Law No. 19.14 and requires prior registration with the Authority, with safeguards covering integrity, professional competence and conflicts of interest. It cautioned that online trading recommendations, including those shared in private messaging groups, may be used to facilitate market manipulation such as “pump and dump” schemes. Separately, the AMMC flagged a recurring fraud pattern used by some trading platforms: false advertising to secure an initial deposit, display of fake profits to induce larger investments, and eventual blocking of withdrawals before the platform closes. The Authority noted that some platforms offering trading in assets such as gold and currencies fall outside its regulatory scope, and that only competent judicial authorities can examine evidence and pursue legal proceedings in cases of fraud. The AMMC also pointed to criminal penalties, including imprisonment and fines, for unauthorised investment advisory activity and for disseminating false or misleading financial information, and urged investors to verify counterparties and sources and consult the official list of accredited financial investment advisors. It announced a stepped-up fraud prevention effort through a digital awareness campaign and directed investors to its educational portal on capital market concepts.

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