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CySEC warns against scammers pretending to be ... CySEC
Cypriot financial supervision, CySEC, issued a communication warning investors against fraudsters. Alleged fraudsters are supposed to impersonate commissioners or representatives of the Commission of the regulator itself.
Fees for fictitious transactions
The fraudsters decided to act extremely brazenly. Presenting themselves as representatives of CySEC, they decided to try to extort from many market participants the regulation of transaction fees, which in reality never took place. The Cypriot commission in the communiqué underlines that there are no such powers to be able to demand in its own name or in any name, to pay such fees from natural persons.
Watch out for suspicious emails
The procedure itself looks quite naive, but it does not mean that it is not a serious threat to retail investors. Scammers impersonating CySEC officials, who present themselves as legal advisors, representatives of the Central Bank of Cyprus or other banks, contact individual persons who are clients of entities regulated by CySEC.
The contact takes place via e-mail, and e-mails give the illusion of authentic origin (logo and seal of CySEC, signatures of officials). The message contains a promise to help traders get compensation for the potential damage they may have suffered as a result of fraud by forex / CFD brokers regulated by CySEC.
