Not so long ago, the Cyprus Securities and Exchange Commission cautioned about prevalent impersonations of team members of this financial authority. The scammers urge investors to pay commissions to settle false suits.
The warning was published as a result of claims from market players.
The authorities noticed that CySEC never sends unsolicited correspondence and does not request any personal or financial info.
The Cyprus watchdog is responsible for controlling the investment platforms and companies, providing administrative solutions for regulatory violations or unethical business practices. These financial authorities noticed that it has no authority or rights to collect commissions for any purpose from individuals and to appoint anyone to execute this.