The Cyprus Securities and Exchange Commission warned on Friday against more cases of impersonations of officers or representatives of representatives of the regulator.
According to the announcement, the fraudsters are soliciting investors to pay fees to settle false claims.
The regulator stated:
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.
The Cyprus watchdog highlighted that the fraudulent impersonation is part of a “sophisticated online campaign to defraud investors”.
The regulator further outlined that such in scams usually fraudsters claim to be officers or representatives of CySEC or real or fake authorities. The scammers usually claim to be CySEC officers or representatives or other real or fake bodies. The scammers usually approach investors via email which contains the name, address, official stamp and logo of CySEC and therefore looks genuine. The fraudsters often make false promises to assist investors with compensation for potential damages related to dealings they have had with sanctioned firms and in this way, they obtain personal information.
The regulator added:
CySEC urges the public to remain vigilant of any unsolicited communication purporting to be from CySEC and to refrain from giving money to anyone who approaches them in a similar way to the examples given above.
CySEC is actively issuing warnings against fraudulent financial services firms and websites.
