CySEC issues warning against five unauthorized investment firms
The Cyprus Securities and Exchange Commission (CySEC) today issued a warning against five unauthorized investment firms.
The firms targeted by CySEC’s alert are:
The regulator notes that the above-mentioned websites do not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities, as provided for in Article 5 of Law 87 (I)/2017.
CySEC urges investors to consult its website (www.cysec.gov.cy), before conducting business with investment firms, in order to ascertain the entities which are licensed to provide investment services and/or investment activities.
The regulator has recently warned of new cases of fraudulent impersonation of its website and detected persons fraudulently presenting themselves as CySEC Officers.
The fake websites are:
Investors should be particularly vigilant of imposters soliciting fees in exchange for settlement of bogus compensation claims.
CySEC reminds the public that it never sends unsolicited correspondence to investors, or the public, nor does it request payments, or individual personal data, financial or otherwise. It is therefore likely that any such demands will be part of a sophisticated online campaign to defraud investors.
As a regulatory authority, CySEC has no authority or jurisdiction to collect fees for any purpose from individual investors, nor does it have authority to appoint anyone to do so on its behalf.
CySEC does not authorize, verify, monitor, nor is it in any way involved in class actions, compensation schemes, payments between natural or legal entities or any public or private agencies.