The Cyprus Securities and Exchange Commission (CySEC) has issued a warning regarding a recent uptick in fraudulent activities involving individuals impersonating its representatives. These scams take place through email and fake accounts on various digital platforms, where the impersonators falsely claim to be CySEC officials soliciting fees from investors under the pretense of settling fictitious compensation claims linked to firms that fall under CySEC’s regulatory oversight.
CySEC has formally stated that it does not initiate contact with individuals via phone calls or unsolicited messages, nor does it request personal or financial information from the public. In light of this, investors are encouraged to verify the legitimacy of any communication they receive by reaching out directly to CySEC’s official email at info@cysec.gov.cy before taking any further action. Individuals are also advised to report any suspicious activities they encounter, fostering a sense of community vigilance against such scams.
Authentic communications coming from CySEC will always originate from email addresses that end with cysec.gov.cy. However, it is important to note that there have been instances where scammers have manipulated their domain names to closely mimic legitimate addresses in an attempt to deceive recipients.
CySEC emphasizes that it lacks the authority to collect any fees from individual investors for any reason. Moreover, the commission does not empower any third party to act on its behalf in this capacity. It has further clarified that it does not engage in class actions, compensation schemes, or transactions between natural or legal persons. This caveat acts as a protective measure for potential investors, highlighting the necessity of discerning genuine communications from fraudulent attempts.
The warning comes as part of CySEC’s ongoing efforts to safeguard the public from impersonation scams. The commission strongly urges everyone to exercise caution and scrupulously scrutinize unsolicited messages purporting to be from CySEC. It is imperative for individuals not to send money or share sensitive information with anyone claiming to represent the commission unless they have validated the communication’s authenticity through official channels.
In summary, this advisory serves as a critical reminder for investors to remain alert and discerning when encountering communications that may appear to come from CySEC. By taking proactive measures to verify the legitimacy of such messages, individuals can help protect themselves from falling victim to fraudsters leveraging CySEC’s name for illicit gain.