The Capital Markets Authority has flagged 15 investment platforms for scamming Kenyans. These are Global Investment Group (GIG), QVSE, Kore Exchange, Abacus Wealth Management, Brown Advisory Group, B Invest, Bitblock Capital Limited, Maliwave Investments, Monetrix Capital Investments, Twenty-four Hours Pro expert Trader, Wealth Sharing Group (Opticoin), CBEX, Just Markets, Ultima Cryptocurrency and Lukman-trust fund.
The regulator says these entities have been operating without the proper licences while soliciting money from the public under the guise of offering investment services.
Many of these platforms promoted options linked to cryptocurrency, forex trading or money market funds.
They attracted people by promising returns that sounded attractive, yet they lacked the approvals needed to run such activities in Kenya.
The Capital Markets Authority made it clear that the firms are under active investigation by the Directorate of Criminal Investigations working together with the authority and other law enforcement agencies.
This is not the first time such warnings have come out. Unlicensed platforms often appear on social media and websites, presenting themselves as genuine investment opportunities.
People looking for ways to grow their savings can easily fall for the presentations, only to find later that withdrawing money becomes difficult or impossible. The regulator has urged anyone who has dealt with these entities to report the matter to the nearest DCI office so that investigators can gather more information.
Kenyans are advised to check the official CMA website or its verified social media accounts before putting money into any investment platform.
Licensed firms are listed there, and it takes only a short time to confirm whether a company has the right approvals. The authority has stressed that dealing with unlicensed operators carries real risks of losing funds, and the current investigations aim to stop further harm.
The list released this week serves as a public caution. It reminds investors to stay careful, ask questions and verify details rather than relying solely on online claims or promises of quick gains.
By naming the platforms openly, the CMA hopes to protect more people from similar schemes and encourage those already affected to come forward.
The investigations continue, and further updates may follow as the process moves ahead.
