The Cyprus Securities and Exchange Commission (CySEC) has issued a warning regarding an uptick in incidents where individuals are fraudulently claiming to be representatives of the organization. These impersonators are reaching out to potential victims via email and setting up fake profiles on various online platforms.
These individuals are pretending to be CySEC officials and are soliciting money from investors under the guise of offering compensation for fictitious claims linked to companies regulated by CySEC. The commission advises the public that it does not make unsolicited contact via telephone or correspondence, nor does it ask for personal or financial information from individuals.
To ensure the legitimacy of any communication claiming to be from CySEC, investors are encouraged to reach out to the organization directly. They can verify the authenticity of such communications by emailing info@cysec.gov.cy before taking any action. Additionally, any suspicious communications should be reported to CySEC for further investigation.
Legitimate communications from CySEC will originate from email addresses ending with cysec.gov.cy. However, it is essential for the public to remain aware that fraudsters may attempt to replicate these web addresses to deceive individuals.
It’s important to note that CySEC does not have the authority to charge fees to individual investors for any purpose, nor does it delegate this responsibility to anyone else. The organization has no involvement in class actions, compensation schemes, or any type of monetary arrangement between private or public entities.
This is not the first time CySEC has cautioned about the impersonation of its staff. As a preventative measure, the organization continues to stress the need for vigilance among the public in light of unsolicited communications purporting to be from CySEC. Citizens are urged not to send money to anyone claiming to be affiliated with the regulatory body without proper verification.