THE Securities and Exchange Commission (CySEC) has warned the public to be cautious when receiving correspondence requiring sensitive data that appears to be coming from them and confirm its authenticity before responding.
The markets regulator said that an unknown company based in the Caribbean falsely maintains that it acts as a representative of a number of organisations, including CySEC and the U.S. Commodity Futures Trading Commission, and whose aim is to “undertake illegal activities and money extortion”.
“The unknown company illegally uses the name and logo of CySEC and other false contact information and contacts investor-clients of various entities to which the CySEC imposed sanctions, promising to ‘help’ these investors recover losses (or part of the losses) they suffered in their cooperation with the abovementioned entities, in exchange for payment of money for alleged legal costs,” it said in an announcement.
CySEC stressed that “it is not related in any way to the company in question or the people behind it, and that it never contacts investors or the general public asking for personal information and/ or details of bank accounts and/ or conducting any financial transactions and / or settlement of compensation from any entity”.
Furthermore, it said that it does not authorise, verify, monitor or have any involvement in payments between natural or legal persons or other public or private entities.
In the case members of the public receive correspondence that appears to be from the Cysec but it is not the result of the receiver’s initiative, and in which the transfer of any amount is requested, to verify its authenticity before taking further actions.
In a similar announcement in June, CySEC said that a number of individuals pretending to act on its behalf using false email addresses and CySEC’s logo are attempting to illegally obtain personal data and funds from unsuspecting victims.
Some of the scammers using the email addresses [email protected], [email protected], and [email protected], managed to convince unsuspecting recipients of emails to transfer money to certain designated bank accounts, the commission said.
CySEC urged enquiries of correspondence verification to be addressed to [email protected]