Con artists attempting to dupe retail clients by impersonating CySec officials

Bogus inspectors claiming to be CySec officials are attempting to dupe retail customers.


Immitation is the best form of flattery, says the old adage.

However, in some cases, it is far from flattery, but insidious and misleading.

During the past few months, Cypriot regulatory authority CySec has increased its regulatory prowess considerably, having taken a comprehensive review of how to maintain and oversee the financial markets sector in what has become the largest retail FX center in the world, Cyprus.

FinanceFeeds has documented CySec’s astute progress, in which the regulator has evolved in order to maintain Cyprus’ number one position as the destination for retail FX, whilst protecting customers at the same time and ensuring sustainability for the future of Cyprus’ all encompassing retail FX business.

Today, a rather less than pleasant byproduct of CySec’s evolutionary perspective with regard to regulation has transpired, in the form of bogus inspectors, claiming to be CySec officials, by unlawfully using CySec’s logo and contact information that is similar to that used by CySec in order to attempt to dupe customers.

CySec has today pointed out that certain email addresses have been used for this purpose, and that caution should be exercised.

Those emails are:

[email protected]
[email protected]
[email protected]
[email protected]
[email protected]

Indeed, whilst this appears to be rather amateur, especially considering the structure of the email addresses being used by these nefarious individuals, it is still important to keep a watchful eye out.

FinanceFeeds spoke to CySec today, who confirmed that this is a very real concern, and CySec stresses that it is absolutely not connected in any way with these email addresses or the individuals behind them, or any correspondance that comes from these.

CySec reaffirms that it never sends any unsolicited correspondance directly to investors or members of the public requesting bank details or personal information, and most certainly does not directly contact retail customers to ask them to make any type of financial transaction.

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