**‘Don’t fall for these scams’ — Cyprus watchdog flags illegal investment websites**
The Cyprus Securities and Exchange Commission (CySEC) has issued a warning to investors regarding several websites that are operating without the necessary authorisation to provide investment services or engage in investment activities as mandated by Cyprus law. In a recent statement, CySEC highlighted that these platforms do not belong to entities that hold a valid licence under Article 5 of Law 87(I)/2017.
The regulator has identified multiple websites that are deemed illegal, including solartecna.com, lucrativeedges.com, optramarket.com, and harvestsphereonline.com. Additionally, the list of flagged entities extends to pehjosf.com, irafloxi.com, evpmarketgroup.com, aintelligence24.com, and primeinvests.eu. CySEC further cautioned investors about fxmaple.com, fxmarketstrade.com, derivinvestments.com, 24yield.com, and xmarketcoin.com.
CySEC's warning comes as part of its ongoing efforts to protect investors from fraudulent schemes and unauthorized service providers. The commission emphasized the importance of conducting thorough due diligence before engaging with any investment service providers. Investors are strongly encouraged to consult the official CySEC website to verify whether a firm is authorised to operate in the investment sector.
The regulator has made it clear that checking the register available on the CySEC website is a crucial step for investors. This resource allows individuals to confirm which persons and entities are licensed to provide investment services, ensuring that they are dealing with legitimate operators.
CySEC's advisory serves as a reminder to the public about the potential risks associated with unregulated investment platforms. As the digital landscape continues to evolve, so too do the methods employed by scammers looking to exploit unsuspecting investors. By staying informed and vigilant, individuals can better protect themselves from falling victim to these fraudulent schemes.
In conclusion, CySEC urges the investing public to exercise caution and to always verify the legitimacy of investment service providers before entering into any financial agreements. This proactive approach is essential in safeguarding personal finances and maintaining the integrity of the investment landscape in Cyprus.