Oman launches campaign against investment fraud

The Financial Services Authority (FSA) of Oman has rolled out a public awareness campaign aimed at tackling financial fraud linked to entities and platforms offering investment services in securities.

The awareness campaign launched under the slogan ‘Make Sure the Entity is Authorised,’ aiming to warn individuals and businesses about the risks of dealing with unlicensed firms offering securities-related services.

It also focuses on educating the public on preventive measures and reporting mechanisms for incidents or attempted fraud to ensure swift action by the relevant authorities.

The FSA affirmed that the campaign sheds light on the importance of dealing with authorised entities approved by the relevant authorities, and distinguishing between legitimate investment opportunities and misleading offers.

Officials stressed the importance of verifying whether a company is authorised before making any financial commitment. Investors are being urged to check the FSA’s official website, as well as listings on the Muscat Stock Exchange, where approved firms are regularly updated.

It also emphasised that the Sultanate of Oman has a well-regulated market for securities-related activities, supported by authorised firms operating in the sector.

The authority added that Oman’s financial market is tightly regulated, with licensed firms providing services such as brokerage, portfolio management and investment advice to both individuals and institutions.

The FSA has also launched the Investor Protection Portal on its official website as a knowledge platform aimed at enhancing transparency and protecting stakeholders, as part of its efforts to provide a safe environment across the sectors it supervises.

The portal enables investors to make informed decisions that help protect their rights by shedding light on the authorised entities that can be dealt with confidently and warning against unauthorised entities that promote themselves as platforms offering services related to securities, insurance, and other sectors without proper authorisation.