The Cyprus Securities and Exchange Commission (CySEC) has halted the publication of its Certification Registers due to alarming instances of identity fraud.
- The Cyprus Securities and Exchange Commission (CySEC) has halted the publication of its Certification Registers due to alarming instances of identity fraud.
This week, CySEC revealed that some individuals have been unlawfully using the personal details of those listed in its Certification Registers or in announcements of certification examination results. The intention behind this misuse is to exploit and defraud unsuspecting members of the public.
In light of these serious concerns, CySEC has temporarily suspended the publication of both the Certification Registers and the announcements of certification examination results on its official website. The commission is committed to safeguarding investor protection and ensuring the integrity of the capital market.
Certification is crucial for anyone seeking employment in supervised entities that provide financial services, as outlined in the Directive for the Certification of Persons and the Certification Registers (Regulatory Administrative Act 44/2019).
“CySEC urges investors, in any communication with third parties concerning investment activities, to verify in advance the entity for which the individual contacting them works for, and to confirm whether that entity is registered on CySEC’s website or with another competent supervisory authority,” the commission stated.
Furthermore, CySEC strongly advises the public to exercise caution when sharing personal information with third parties. “Investors should under no circumstances make any payments before confirming the identity of the entity with which they intend to engage in transactions,” the commission added, emphasising the importance of vigilance in financial dealings.
