CySEC detects new cases of fraudulent impersonation of its representatives
The Cyprus Securities and Exchange Commission (CySEC) has recently detected additional cases of fraudulent impersonation of CySEC officers and representatives.
Investors are advised to be particularly vigilant of imposters soliciting fees in exchange for settlement of bogus compensation claims related to firms under CySEC supervision.
For that reason, CySEC would like to remind the public that it never contacts by telephone or sends unsolicited correspondence to investors or members of the public, nor does it ever request any personal data, financial or otherwise.
These cases are part of a sophisticated online campaign to defraud investors. Investors should be alert to these scams which in recent cases have taken the following form:
- Fraudsters claim to be CySEC officers, appointed representatives of CySEC, such as legal advisors, other Cypriot supervisory authorities or other real or fake bodies.
- The scammers contact clients of CySEC regulated entities, often via emails or/and by telephone, which appear genuine and include the telephone number, the name, address, official stamp, and logo of CySEC, fraudulently copying CySEC officials’ signatures.
- The fraudsters make false offers to assist investors with compensation claims for dealings they may have had with sanctioned firms – typically online trading firms offering speculative investment products.
- Through these preliminary contacts, the fraudsters illegally obtain additional personal information.
CySEC has previously warned of fraudulent impersonation attempts. The fake websites are: