The Cyprus Securities and Exchange Commission (CySEC) issued yet another warning that individuals or entities inappropriately introduce themselves as representatives of the CySEC or other local supervisory authorities, aiming to conduct illegal transactions. (https://smnweekly.com/2017/03/09/cyprus-cysec-issues-another-warning-for-regulatory-impersonators/)
The scammers usually contact clients of existing authorized financial service providers. They use various means of communication, but emails are the most widely used one. They use the name, logo and contact details of the CySEC and promise investors to “assist” them in receiving compensation for potential damages incurred during their cooperation with the said firms, of course in exchange for a legal fee or other expenses.
The CySEC emphasized that it never requests citizens’ personal or bank details and that they make any sort of financial transaction. The regulator noted that it does not authorize, verify, monitor, or is in any way involved in payments between natural or legal entities or any public or private agencies.
I had heard of scammers that clone brokers, I hadn’t heard of scammers that clone regulators.
The scammers usually contact clients of existing authorized financial service providers. They use various means of communication, but emails are the most widely used one. They use the name, logo and contact details of the CySEC and promise investors to “assist” them in receiving compensation for potential damages incurred during their cooperation with the said firms, of course in exchange for a legal fee or other expenses.
The CySEC emphasized that it never requests citizens’ personal or bank details and that they make any sort of financial transaction. The regulator noted that it does not authorize, verify, monitor, or is in any way involved in payments between natural or legal entities or any public or private agencies.
I had heard of scammers that clone brokers, I hadn’t heard of scammers that clone regulators.
