CySEC Issues Warning Against Copycat Sites, as Impersonators Pile

CySEC Issues Warning Against Copycat Sites, as Impersonators Pile

The Cypriot market regulator CySEC has issue a new warning pertaining to a new set of impersonating actors. The watchdog has warned against fake websites and agents impersonating its representatives, its officers, and its website as a whole. According to an official statement by the firm on Tuesday, these are a part of a bigger “sophisticated online campaign to defraud investors.”

The regulator further expands on the forms that these impersonators have taken. Accordingly, fraudsters were and still are claiming to be either representatives or officers for CySEC, even at times claiming to be legal advisors, or CySEC-approved entities.

A somewhat new fraudulent approach is to pretend to be interested in assisting traders with their compensations claims form past deals; all such claims are unwarranted, of course, but many users cannot know all the past firms that they have had dealings with. CySEC notes that these firms are most of the times online trading companies.

On Tuesday, the overseer also released a list of five fake websites all impersonating the regulators main site. These are www.cysec-support.online, cysec-regulatory.com, www.cysecs.group, www.cysecsupport.online, and www.cysecgov.com.

As a result of these fraudsters and schemes, CySEC has warned all investors to take caution and remain vigilant of bogus compensations claims and imposter regulators. CySEC reminded that it never sends out unsolicited messages to anyone, and that it will never require financial data from users

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