The Cyprus Securities and Exchange Commission (CySEC) has recently issued a warning concerning deceptive emails that falsely claim to be from its officers, aimed at swindling victims out of their money. These fraudulent communications have become a pressing concern, prompting an advisory for both licensed entities and investors to remain vigilant. The regulator advises recipients to report any suspicious messages they encounter.
Several characteristics can help individuals identify these misleading emails:
1. The emails misuse the CySEC name and contain signatures or sign-offs from fictitious individuals, posing as employees of the commission.
2. The communications present themselves as official messages from CySEC, offering dubious services that may include claims of fund releases through a so-called “Identification Key” that requires a fee for access, or the issuance of a “Trading Certificate” purportedly necessary for legal transactions or market activities, which also includes a cost.
3. The emails typically solicit substantial upfront payments, under the guise of adherence to “regulatory requirements.”
CySEC emphasizes that it never solicits money or fees from individual investors for the provision of certificates or the release of funds. Additionally, the commission does not authorize any other party to carry out such financial activities on its behalf.
To ensure authenticity, recipients are advised to verify that emails are from legitimate sources, notably those that use official CySEC email addresses, which should only end with @cysec.gov.cy. Individuals are encouraged to exercise caution and to be proactive in distinguishing real communications from fraudulent ones.