Mauritius police issues warning against fraudulent crypto dealers

Following the numerous cases of fraud reported to the police, relating to “Virtual Assets (including cryptocurrencies)”, the public is being advised to be vigilant in the face of investment proposals in cryptocurrencies (Bitcoins, etc.).

Several media cited a Police press release as reminding that, under the Virtual Assets and Initial Token Offering Services (VAITOS) ACT 2021, all dealings with cryptocurrencies must be undertaken only by a company licensed by the Financial Services Commission (Mauritius).

Any offender is liable to a fine of up to Rs 5 million and prison sentence of up to 10 years.

Police hotline to report such cases is the 148.