The Cyprus Securities and Exchange Commission (CySEC) has issued a warning to investors regarding nine websites operating without proper authorization to provide investment services under Cypriot financial regulations.

Cyprus Regulator Flags Nine Unauthorized Investment Websites

The regulator identified the following unauthorized websites: surgirux.pro, nasanetac.com, a-eternitycapital.ltd, rohkatech.com, asteo-group.com, elegantopex.com, ewripro.com, haystdq.com, and eldenstrade.com. None of these entities have obtained the necessary licenses required under Article 5 of Law 87(I)/2017 to legally offer investment services or conduct investment activities in Cyprus.

It is worth noting, however, that at the time of writing, virtually none of the mentioned domains were operational. The only exception was ewripro.com, which redirects to a Russian-language portal offering trading services to retail investors.

In its public notice, CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term emphasized the importance of due diligence, urging potential investors to verify the regulatory status of any investment firm before engaging in business activities. The regulator specifically directed investors to consult its official website to confirm whether entities are properly licensed.

Investors who have conducted business with any of the flagged websites are advised to contact CySEC or appropriate financial authorities with information regarding their experiences.

Yesterday (Tuesday), CySEC also reached a 200,000 settlement with Colmex Pro, citing possible violations related to authorization, client protection, and CFD regulations.

Scams on the Rise

This warning emerges as concerns grow about unlicensed investment platforms targeting everyday investors. Cyprus serves as an important financial center in the European Union and closely monitors investment firms operating in the country.

Throughout 2024, CySEC conducted more than 850 inspections, imposed €2.76 million in penalties and canceled several operating permits. With new EU rules now in effect, the regulator is intensifying its compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term monitoring to better protect investors and ensure financial market stability.

During a recent media briefing, CySEC Chairman Dr. George Theocharides highlighted the organization's key focus areas, stating that “protecting investors and the further development of a healthy market” remain at the core of their mission.

Earlier this year in February, the regulator published a practical handbook on implementing effective sanctions screening systems. This resource incorporates findings from CySEC's recent evaluation of the effectiveness of sanctions monitoring systems currently used by regulated entities throughout Cyprus.