unauthorised investment — unauthorised investment — The Cyprus Securities and Exchange Commission (CySEC) has warned investors about several websites that are not authorised to provide investment services or perform investment activities in Cyprus. This advisory comes as a critical reminder for individuals looking to engage in investment opportunities.
Unauthorised investment: List of Unauthorised Websites
According to the regulator, the following websites are operating without the necessary licensing:
- deltatradingcorp.com
- vyntor.net
- phronimoss.com
- alchemy-investments.ltd
- axiance.com
- superfitmax.com
- fusion4marketsltd.com
- anforanav.com
- bm-holdings.co
- lyfelete.com
- novustrade.net
These sites do not belong to any entity licensed to operate within Cyprus, posing potential risks to investors who may unknowingly engage with them.
Advice from CySEC
CySEC has strongly advised investors to exercise caution and verify the authorisation status of any investment firm before proceeding with transactions. The regulator encourages individuals to consult its official website to confirm whether a company is licensed to provide investment services or engage in investment activities.
“CySEC urges investors to consult its website before conducting business with investment firms, in order to ascertain the entities, which are licensed to provide investment services or investment activities,” the commission stated in its announcement.
Emerging Threats of Fraudulent Communications
In a separate warning, CySEC has also alerted both investors and licensed entities about fraudulent electronic communications that falsely claim to originate from the regulator. These emails typically impersonate CySEC officers and attempt to defraud recipients by soliciting money.
The commission cautioned that these deceptive emails often feature the name of CySEC, alongside a fabricated signature of a non-existent employee, misleading recipients into believing they are receiving legitimate communications.
Common Tactics Used by Fraudsters
Fraudulent messages frequently offer services such as the alleged release of funds, contingent on the payment of a fee or the supposed acquisition of a trading certificate that would supposedly legalise transactions in the markets. These scams often demand advance payments for regulatory compliance, which can involve significant sums of money.
CySEC emphasised that it never requests or accepts payments or fees from individual investors for the issuance of certificates or for the release of funds. Furthermore, the regulator does not authorise any third party to carry out such actions on its behalf.
Recognising Genuine Communications
The public is urged to remain particularly vigilant when receiving communications that claim to be from CySEC. The commission pointed out that authentic CySEC email addresses conclude with @cysec.gov.cy, serving as a reliable indicator of legitimacy.
“Be aware of the dissemination of false communications and report them immediately,” the commission advised, highlighting the importance of prompt reporting of any suspicious communications.
Protecting Your Personal and Financial Information
CySEC has reiterated the necessity for the public to safeguard personal and financial information by avoiding disclosing sensitive details to unknown parties. Investors are also urged to refrain from making any payments to individuals claiming to represent CySEC.
In light of the increasing prevalence of such fraud, CySEC concluded by stressing that it is crucial for investors to be discerning and cautious about the communications they receive before proceeding with any transactions.
“This kind of fraud is becoming increasingly common, so it is vital that investors think twice about the communications they are receiving before they proceed to any transaction,” the commission warned.
