CySEC Warns against Public Review Websites

Do you also rely on feedback coming from public review websites? If so, you should pay attention to it. The Cyprus Securities and Exchange Commission (“CySEC”) warned about such websites and made individuals aware of fake and deceptive posts on public review sites like TrustPilot.com and Google Business.

The regulator also told about the user's instances when people claiming to be CySEC officers or representatives have contacted investors and demanded money. CySEC warns that there has recently been an upsurge in such cases. The authority asks the public to be aware of these frauds.

According to its press release, CySEC would like to remind everyone that:

1. CySEC never contacts individuals by telephone or sends unsolicited correspondence and does not request personal data, financial or other information.

2. Investors are urged to contact CySEC to confirm the authenticity of communications by sending an email to info@cysec.gov.cy before taking any action, and to inform CySEC of any suspicious activity that comes to their attention.

3. Genuine emails from CySEC include addresses ending in cysec. gov. cy - although, there have been cases where fraudsters have disguised their web addresses to copy these.

4. CySEC has no authority or mandate to collect fees for any purpose from individual investors, nor does it have the authority to appoint anyone to do so on its behalf.

5. CySEC does not authorise, verify, monitor, or engage in any way in class actions, compensation schemes, payments between natural or legal entities, or any public or private organisations.

About CySEC

The Cyprus Securities and Exchange Commission (CySEC) is the independent public supervisory Authority responsible for the supervision of the investment services market, transactions in transferable securities carried out in the Republic of Cyprus, and the collective investment and asset management sector. It also supervises the firms offering administrative services which do not fall under the supervision of ICPAC and the Cyprus Bar Association, as well as Crypto-Asset Services Providers.

Why use a Forex app if it doesn't provide the latest market news to you? On the other hand, WikiFX not only provides you with the latest Forex market news, but also enables you to evaluate a broker's regulatory status, reviews, and reliability. If you wish to use these features, go to the WikiFX website immediately.