CySEC Warns of Fake Regulator Scams on TrustPilot, Google Business

Scammers are taking to public review websites like
TrustPilot and Google Business to impersonate representatives of the Cyprus
Securities and Exchange Commission (CySEC), misleading investors into paying
bogus fees, the regulator warned.

The increase in these fraudulent activities has now prompted
CySEC to issue a warning, urging the public to be vigilant and cautious when
approached by supposed CySEC officials.

Fake Representatives Demand Recovery Fees

According to CySEC, recent reports reveal a surge in
incidents involving individuals falsely claiming to be CySEC officers. These
scammers contact investors, often via email or fake online accounts, and demand
fees, promising to assist in recovering investment losses from CySEC-regulated
companies.

The exploits the trust investors place in CySEC as a
regulatory body, making it a particularly dangerous scam. CySEC warns that it
does not contact individuals directly or request personal or financial
information.

The agency maintains that it has no mandate to collect fees
from investors or appoint third parties for such purposes. To combat the
growing trend of misinformation and fraudulent activities, CySEC utilizes
advanced social media listening tools.

These tools monitor posts across multiple languages in
real-time, alerting the regulator to false or misleading content posted by
investment firms or so-called “finfluencers.” This capability enables
CySEC to take swift action against harmful marketing activities, protecting
potential investors from scams.

Expect ongoing updates as this story evolves.

Scammers are taking to public review websites like
TrustPilot and Google Business to impersonate representatives of the Cyprus
Securities and Exchange Commission (CySEC), misleading investors into paying
bogus fees, the regulator warned.

The increase in these fraudulent activities has now prompted
CySEC to issue a warning, urging the public to be vigilant and cautious when
approached by supposed CySEC officials.

Fake Representatives Demand Recovery Fees

According to CySEC, recent reports reveal a surge in
incidents involving individuals falsely claiming to be CySEC officers. These
scammers contact investors, often via email or fake online accounts, and demand
fees, promising to assist in recovering investment losses from CySEC-regulated
companies.

The exploits the trust investors place in CySEC as a
regulatory body, making it a particularly dangerous scam. CySEC warns that it
does not contact individuals directly or request personal or financial
information.

The agency maintains that it has no mandate to collect fees
from investors or appoint third parties for such purposes. To combat the
growing trend of misinformation and fraudulent activities, CySEC utilizes
advanced social media listening tools.

These tools monitor posts across multiple languages in
real-time, alerting the regulator to false or misleading content posted by
investment firms or so-called “finfluencers.” This capability enables
CySEC to take swift action against harmful marketing activities, protecting
potential investors from scams.

Expect ongoing updates as this story evolves.

This post is originally published on FINANCEMAGNATES.

  • Related Posts

    24/5 Trading? eToro Should Be Cautious of Tech Limits – Just Ask Robinhood

    eToro has become the latest retail broker to launch round-the-clock trading, but only for five days a week. This feature is not new. In fact, most popular retail brokers now…

    B2BROKER and Nullpoint Partner to Integrate B2COPY Copy Trading Solution

    Financial technology provider B2BROKER and Forex CRM specialist Nullpoint Technologies have announced a strategic partnership to integrate B2BROKER’s B2COPY money management platform into the Nullpoint CRM ecosystem. The integration makes…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Silver Faces Turning Point Amid US Dollar Surge. Forecast as of 30.07.2025

    • July 30, 2025
    Silver Faces Turning Point Amid US Dollar Surge. Forecast as of 30.07.2025

    24/5 Trading? eToro Should Be Cautious of Tech Limits – Just Ask Robinhood

    • July 30, 2025
    24/5 Trading? eToro Should Be Cautious of Tech Limits – Just Ask Robinhood

    B2BROKER and Nullpoint Partner to Integrate B2COPY Copy Trading Solution

    • July 30, 2025
    B2BROKER and Nullpoint Partner to Integrate B2COPY Copy Trading Solution

    Short-Term Analysis for BTCUSD, XRPUSD, and ETHUSD for 30.07.2025

    • July 30, 2025
    Short-Term Analysis for BTCUSD, XRPUSD, and ETHUSD for 30.07.2025