International Organization of Securities Commissions (IOSCO) Launches Global Database of Unlicensed Firms Providing Investment Services or Engaging Illegal Financial Activities via I-SCAN (IOSCO International Securities & Commodities Alerts Network), Issues Statement to Protect Investors from Online Harm & Fraud Highlighting Key Roles of Regulators & Platform Providers (Search Engines, Social Networks, Apps), 1) Platform Providers Can Conduct Due Diligence Including Using I-SCAN & to Ensure Advertisers are Legally Authorised to Operate in Targeted Jurisdictions & Not Subject of Investor Warnings by Regulators, 2) Monitoring & Removing Scam Content or Violating Platform Policies, 3) Frequently Updating Internal Processes, 4) Ensure Compliance of Laws & Regulations, 5) Active & Direct Engagement with Regulators
23rd May 2025 | Hong Kong
The International Organization of Securities Commissions (IOSCO) has launched a global database of unlicensed firms providing investment services or engaging in illegal financial activities via I-SCAN (IOSCO International Securities & Commodities Alerts Network), and issued a statement to protect investors from online harm & fraud. IOSCO highlighted the key roles of regulators & platform providers (search engines, social networks, apps), 1) Platform providers can conduct due diligence including using i-scan & to ensure advertisers are legally authorised to operate in targeted jurisdictions & not subject of investor warnings by regulators, 2) Monitoring & removing scam content or violating platform policies, 3) Frequently updating internal processes, 4) Ensure compliance of laws & regulations, 5) Active & direct engagement with regulators. Hong Kong SFC (22/5/25): “The Securities and Futures Commission (SFC) welcomes the International Organization of Securities Commissions’ (IOSCO) call upon online platform providers to collaborate with regulators to combat online scams, as a growing number of retail investors have become targets of highly sophisticated online scams (Note 1). In particular, impersonation scams, which have recently been on the rise in Hong Kong and globally, are also a major focus of the SFC’s efforts in protecting and educating investors. The IOSCO’s statement, issued last night, calls on online platform providers to promptly remove fraudulent content and implement robust anti-scam measures, including user verification and pre-vetting mechanisms. In a concerted effort, the SFC urges online platform providers to utilise alerts posted on the SFC website and the newly revamped IOSCO International Securities and Commodities Alerts Network (I-SCAN) (Note 2). Both are valuable tools that can assist online platform providers to more effectively and pro-actively block illegal investment offerings, issue timely warnings and prevent flagged firms from advertising on their platforms.” IOSCO – Our membership regulates more than 95% of the world’s securities markets in more than 130 jurisdictions. IOSCO is the international body that brings together the world’s securities regulators and is recognized as the global standard setter for financial markets regulation. We develop, implement and promote adherence to internationally recognized standards for financial markets regulation and work closely with other international organizations on the global regulatory reform agenda. Our Objectives and Principles of Securities Regulation are endorsed by both the G20 and the FSB and serve as the overarching core principles that guide us in the development and implementation of internationally recognized and consistent standards of regulation, oversight and enforcement. They also form the basis for the evaluation of the securities sector for the Financial Sector Assessment Programs (FSAPs) of the International Monetary Fund (IMF) and the World Bank.
“ International Organization of Securities Commissions (IOSCO) Launches Global Database of Unlicensed Firms Providing Investment Services or Engaging Illegal Financial Activities via I-SCAN (IOSCO International Securities & Commodities Alerts Network), Issues Statement to Protect Investors from Online Harm & Fraud Highlighting Key Roles of Regulators & Platform Providers (Search Engines, Social Networks, Apps), 1) Platform Providers Can Conduct Due Diligence Including Using I-SCAN & to Ensure Advertisers are Legally Authorised to Operate in Targeted Jurisdictions & Not Subject of Investor Warnings by Regulators, 2) Monitoring & Removing Scam Content or Violating Platform Policies, 3) Frequently Updating Internal Processes, 4) Ensure Compliance of Laws & Regulations, 5) Active & Direct Engagement with Regulators “
Notes:
- IOSCO is an international body of securities regulators whose membership regulates over 95% of the world’s securities markets in more than 130 jurisdictions.
- In March 2025, IOSCO launched the I-SCAN which is a global repository of alerts and warnings about unlicensed firms providing investment services or engaging in illegal financial activities.
International Organization of Securities Commissions (IOSCO) Launches Global Database of Unlicensed Firms Providing Investment Services or Engaging Illegal Financial Activities via I-SCAN (IOSCO International Securities & Commodities Alerts Network), Issues Statement to Protect Investors from Online Harm & Fraud Highlighting Key Roles of Regulators & Platform Providers (Search Engines, Social Networks, Apps), 1) Platform Providers Can Conduct Due Diligence Including Using I-SCAN & to Ensure Advertisers are Legally Authorised to Operate in Targeted Jurisdictions & Not Subject of Investor Warnings by Regulators, 2) Monitoring & Removing Scam Content or Violating Platform Policies, 3) Frequently Updating Internal Processes, 4) Ensure Compliance of Laws & Regulations, 5) Active & Direct Engagement with Regulators
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