CySEC issues warning against Bogus CySEC Instagram account

The Cyprus Securities and Exchange Commission (CySEC) has issued a public warning against Fake CYSEC Instagram Account. Who are impersonating CySEC officials and stealing money from the public

CySEC announces that, has identified a fake account on Social Media platform Instagram with username

« cysec_cy », which has been maliciously created and does not belong to CySEC.

Through this Instagram account, persons fraudulently presenting themselves as CySEC Officers or representatives, who are soliciting investors for fees in exchange for allegedly settlement of bogus compensation claims related to firms under CySEC supervision.

Further to the above, CySEC wishes to emphasize that:

• CySEC never makes contact by telephone or sends unsolicited coprrespondence and does

not request personal data, financial or otherwise.

• Urges Investors to contact CySEC to confirm the authenticityof communications by contacting info@cysec.gov.cy before taking any action.

• Genuine emails from CySEC include addresses ending in gov.cy - aIthough there have been

cases where fraudsters have also cloned these as well.

• CySEC has no authority or jurisdiction to collect fees for any purpose from individual

investors, nor does it have authority to appoint anyone todo so on its behalf.

• CySEC does not authorize, verify, monitor, or is in anyway involved in class actions,

compensation schemes, payments between natural orlegal entities or any public or

private agencies.

• CySEC has issued multiple public warnings when similar cases occur, which are published

on its website at: https://www.cysec.gov.cy/en-GB/public-info/warnings/cysec/

• CySEC's investor guide on how to spot scams can be found here- Cyprus Securities and

Exchange Commission

CySEC urges the public to remain vigilant regarding any unsolicited communication from CySEC, to refrain from giving money to anyone who claims any or all of the above.

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. The vision of the CySEC is to establish the Cyprus securities market as one of the safest, most reliable and attractive destinations for investment.

The mission of the CySEC is to exercise effective supervision to ensure investor protection and the healthy development of the securities market.

To know about the security and reliability of your chosen brokers. You can use Wikifx app. Also to expand your knowledge and stay informed about the forex market. Download the Wikifx app on your phones. Here is the Link to the download: https://www.wikifx.com/en/download.html