The Cyprus Securities and Exchange Commission has issued a warning about fraudulent emails pretending to come from its officers. These messages aim to extract money from recipients. CySEC is urging licensed firms and investors to be alert and report any suspicious communications immediately.
Fake Emails Claim CySEC Fund Release
The fake emails often use the CySEC name with a signature of a non-existent employee. They may offer services such as the release of funds via an “Identification Key” or the acquisition of a “Trading Certificate,” both requiring payment.
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Some messages request large advance fees under the guise of regulatory compliance.
You may find it interesting at FinanceMagnates.com: CySEC Tightens CFD Rules for Retail Clients, Limiting Leverage on Certain Contracts.
CySEC reminded the public that it never requests payments for certificates or fund releases and does not authorize third parties to act on its behalf.
People are advised not to share personal or financial information and to avoid making payments to anyone claiming to represent CySEC.
CySEC Launches Quiz to Help Investors Spot Scams
CySEC has launched a campaign to help retail investors and traders recognise investment scams in forex, CFDs, and crypto. As part of this effort, the regulator introduced a 12-question quiz covering scenarios such as suspicious online platforms, high-return investment offers from friends, and advisors contacting users via private messaging apps instead of official channels.
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The initiative aligns with broader efforts in Europe, where the European Commission has urged digital platforms, including X, Meta, TikTok, and others, to limit the promotion of fraudulent investment schemes. Other regulators, such as in Italy and Australia, have taken measures to block access to suspect platforms and social media campaigns.
