A new wave of telephone fraud has surfaced where
scammers are masquerading as representatives from the Capital Market
Commission. According to a statement published on Cyprus Police News, these
impostors are proficient in the Greek language.
They
allegedly have been coercing individuals to disclose personal information or grant them
access to their computers. This scheme has prompted law enforcement to issue a
cautionary note urging the public to exercise extreme vigilance and refrain from
engaging in such fraudulent calls.
The fraudulent calls typically commence with the impersonator claiming to represent the Capital
Market Commission. They imply concerning activities within the victim’s bank
account, aiming to extract sensitive information or gain access to their
computers.
Authorities have emphasized the importance of
recognizing the signs of this fraudulent activity. They stated that the Capital
Market Commission would not reach out through unsolicited calls demanding
personal details or computer access.
According to the statement which was shared by the Cyprus Securities and Exchange Commission (CySEC) on its Twitter page, the regulators
have urged users to verify the identity of the caller. They have cautioned
them to refrain from disclosing personal information or granting access to their devices to suspicious individuals unless absolutely certain about the
authenticity of the caller.
🚨Investor Alert -Fraudsters impersonating CySEC officers
Police announcement: https://t.co/9OXVUJCrMK pic.twitter.com/TUSRWUL5yO
— CySEC (@CySEC_official) November 15, 2023
In October, CySEC issued a public alert cautioning
investors about a fraudulent Instagram account masquerading as the regulator’s
official channel. The account, with over 14,100 followers, deceitfully promises
dispute resolution services to traders while impersonating CySEC’s employees in
an attempt to swindle unsuspecting individuals.
The fake Instagram account, bearing the username “cysec_cy,” redirects users to the genuine CySEC ’s website. It
allegedly manipulated its information by featuring a fraudulent email address that resembles the regulator’s domain.
Apart from CySEC’s active efforts, regulators across
Europe, including Italy, Spain, the UK, and Australia, are publicly naming and flagging
fraudulent financial services platforms and cloned brokerages.
Rising Warnings about Impersonators and Fake Websites
Recently, New Zealand’s Financial Market Authority (FMA) raised concerns over the infiltration of CySEC imposters targeting investors
within the country. The FMA’s warning urged New Zealanders to exercise extreme
vigilance against fraudulent communications purporting to be from CySEC.
The FMA’s warning featured six fake CySEC websites and an email address used by fraudsters. These fraudulent domains
closely mimic CySEC’s official site. Cyprus’ securities regulator has reiterated that it does not collect
fees from individuals, emphasizing its role in regulation and enforcement
actions against non-compliant companies.
A new wave of telephone fraud has surfaced where
scammers are masquerading as representatives from the Capital Market
Commission. According to a statement published on Cyprus Police News, these
impostors are proficient in the Greek language.
They
allegedly have been coercing individuals to disclose personal information or grant them
access to their computers. This scheme has prompted law enforcement to issue a
cautionary note urging the public to exercise extreme vigilance and refrain from
engaging in such fraudulent calls.
The fraudulent calls typically commence with the impersonator claiming to represent the Capital
Market Commission. They imply concerning activities within the victim’s bank
account, aiming to extract sensitive information or gain access to their
computers.
Authorities have emphasized the importance of
recognizing the signs of this fraudulent activity. They stated that the Capital
Market Commission would not reach out through unsolicited calls demanding
personal details or computer access.
According to the statement which was shared by the Cyprus Securities and Exchange Commission (CySEC) on its Twitter page, the regulators
have urged users to verify the identity of the caller. They have cautioned
them to refrain from disclosing personal information or granting access to their devices to suspicious individuals unless absolutely certain about the
authenticity of the caller.
🚨Investor Alert -Fraudsters impersonating CySEC officers
Police announcement: https://t.co/9OXVUJCrMK pic.twitter.com/TUSRWUL5yO
— CySEC (@CySEC_official) November 15, 2023
In October, CySEC issued a public alert cautioning
investors about a fraudulent Instagram account masquerading as the regulator’s
official channel. The account, with over 14,100 followers, deceitfully promises
dispute resolution services to traders while impersonating CySEC’s employees in
an attempt to swindle unsuspecting individuals.
The fake Instagram account, bearing the username “cysec_cy,” redirects users to the genuine CySEC ’s website. It
allegedly manipulated its information by featuring a fraudulent email address that resembles the regulator’s domain.
Apart from CySEC’s active efforts, regulators across
Europe, including Italy, Spain, the UK, and Australia, are publicly naming and flagging
fraudulent financial services platforms and cloned brokerages.
Rising Warnings about Impersonators and Fake Websites
Recently, New Zealand’s Financial Market Authority (FMA) raised concerns over the infiltration of CySEC imposters targeting investors
within the country. The FMA’s warning urged New Zealanders to exercise extreme
vigilance against fraudulent communications purporting to be from CySEC.
The FMA’s warning featured six fake CySEC websites and an email address used by fraudsters. These fraudulent domains
closely mimic CySEC’s official site. Cyprus’ securities regulator has reiterated that it does not collect
fees from individuals, emphasizing its role in regulation and enforcement
actions against non-compliant companies.
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- Source: https://www.financemagnates.com//forex/cyprus-police-warn-of-telephone-scam-as-fraudsters-pose-as-market-watchdogs/
