Nicosia, Sep 6 (IANS) Cyprus’ Securities and Exchange Commission (CySEC) has launched a social media campaign to prevent investment scams following a spade of complaints by people who had been defrauded by scammers.
CySEC said in a press release on Friday that the campaign is aimed at protecting investors against the rising trend of online scams and follows the discovery of fraudulent websites that are falsely claiming to be associated with CySEC, Xinhua news agency reported.
In a separate move, the Cyprus Police issued a warning to the public, calling on people to avoid any investments offering unusually high returns.
The Electronic Crime Division of the police said it has identified several videos on social media platforms featuring public figures urging viewers to invest in opportunities that are actually non-existent.
Police said online scams are becoming a serious issue in Cyprus, as in the past 25 days they received eight significant fraud complaints involving losses of over half a million euros.
In one such case, a 68-year-old man lost 183,000 euros ($202,908), the savings of a life, by responding to a fake stock investment website.
CySec urged the public to ensure that any person or entity that they are in contact with, are licensed to provide investment services in Cyprus.
–IANS
int/rs
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.