The Cyprus Securities and Exchange Commission (CySEC) on Friday stated that it has recently detected additional cases of fraudulent impersonation of CySEC officers and representatives, following an earlier warning, issued on November 22, 2022.
The commission said that investors should be particularly vigilant of imposters soliciting fees in exchange for settlement of bogus compensation claims related to firms under its direct supervision.
“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 commission stressed.
What is more, the commission said that these cases are part of a sophisticated online campaign aimed at defrauding investors.
In addition, the commission highlighted some of the most common tactics used by criminals to defraud people of their money.
Fraudsters may impersonate CySEC officers or representatives, including legal advisors and other Cypriot supervisory authorities, as well as real or fake organizations.
Moreover, scammers can reach out to clients of CySEC-regulated entities through emails or phone calls that appear to be legitimate. These communications often include the official telephone number, name, address, stamp, and logo of CySEC. They may also fraudulently copy the signatures of CySEC officials.
Furthermore, fraudsters can make false offers to assist investors with compensation claims related to dealings they may have had with sanctioned firms, particularly those offering speculative investment products. During these initial interactions, the scammers unlawfully obtain additional personal information.
The commission has issued multiple public warnings when similar cases occurred in the past, which can be found on its website.
“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,” the commission stated.
Finally, the commission stressed that investors are strongly advised to contact CySEC to confirm the authenticity of the communication before taking any action.
Investors can use the following email address: [email protected].