The Belgian Financial Services and Markets Authority
recorded a rise in whistleblower and consumer reports in 2025, reflecting
increased contact with the regulator and continued concerns about unlawful
financial activity.
The FSMA said it received 306 whistleblowers’ reports in
2025. That was 12% more than in 2024 and more than double the number received
in 2022. The authority uses these reports to detect breaches of financial
legislation at an early stage and, where necessary, to take supervisory or
enforcement measures.
Whistleblowing Channel Strengthens FSMA Early Detection
Jean-Paul Servais, Chairman of the FSMA, said the trend was
positive because it showed growing trust in the regulator. He said consumers
were increasingly contacting the FSMA “to check if their provider is
trustworthy” and that this approach helps prevent fraud.
He added that it is
important for a supervisory authority to listen to both the financial sector
and the public in order to “detect, as early as possible, important signals”
that may require action.
The FSMA has operated a dedicated whistleblowing channel
since 2017 for reporting suspected infringements of financial legislation under
its supervision. The authority said reports are handled with particular care to
ensure anonymity and confidentiality.
Consumer Complaints Jump 13%
The number of reports through this channel has increased
steadily. The FSMA received 139 reports in 2022, 238 in 2023, 274 in 2024 and
306 in 2025.
The reports cover a wide range of areas, including financial
products, market surveillance, company disclosures, conduct of business rules,
financial intermediaries, supplementary pensions and unlawful activities. Some
reports lead to investigations and, in certain cases, sanctions.
Consumer contact with the FSMA also continued to rise. In
2025, the authority received 4,674 consumer reports. That was three times the
level recorded in 2016 and 13% higher than in 2024. The increase has been
consistent year on year.
245 Scam Websites Prevent Nearly 23,000 Visits
Most consumer reports concerned unlawful or fraudulent
offers. In 2025, the FSMA received an average of 273 such reports per month.
The authority also noted that more consumers are contacting it before investing
to verify whether a firm or individual is trustworthy.
Since April 2025, the FSMA has blocked 245 fraudulent domain
names through the Belgian Anti-Phishing Shield. The authority said this
prevented nearly 23,000 attempted visits to fraudulent websites.
This article was written by Tareq Sikder at www.financemagnates.com.
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