Fake Indian Site is Posing As Real CySEC Website

The Cypriot regulator, the CySEC has alerted the public to be wary of a website hosted in India resembling its own main site. What is CySEC's real website?

August 12, 2021, | AtoZ Markets – The Cyprus Securities and Exchange Commission (CySEC) has drawn the attention of the public to the fact that its website has been cloned illegally by another website hosted by a company based in India, resembling that of the real CySEC website.

What is CySEC's real website?

CySEC’s main website address is https://www.cysec.gov.cy while the illegal website that
copies CySEC is https://cysecgov.com/. This website is a scam and not associated with CySEC.

Another distinction is that all the announcements on the website that illegally copies that of CySEC are only until October 2020. The real CySEC website has announcements up until this month, August 2021.

Therefore, the public is urged to be very careful and to make sure that it is linked to the official CySEC website, especially in case of payments that need to be made for exams or other purposes through JCC, as well as for licensed entities under the supervision of CySEC.

The Cypriot regulator is now taking all the appropriate actions the safeguard its legitimate interest.

Be wary of impersonation scam

This isn’t the first time that CySEC is dealing with scammers. Last year, some individuals who claimed to be CySEC officers or appointed representatives were soliciting investors for fees, in exchange for settlement of bogus compensation claims related to the conduct of business with a number of firms under CySEC’s supervision.

Aside from impersonating CySEC, unauthorized FX brokers are becoming common in the industry, as fraudsters have grown increasingly resourceful in recent years. A commonly adopted tactic is for scammers to advertise an illegal operation as a reputable brand or entity. They do this in order to dupe unsuspecting investors into parting with their personal details or cash.

Read also: OctaFX Warns Clients to Be Wary of Clone Websites

CySEC has often caution investors to consult its website before conducting business with investment firms, in order to ascertain the entities which are licensed to provide investment services and/or investment activities. Although CySEC works alongside other national financial industry supervisors, it is hard work to flag as many illicit websites as possible.

Think we missed something? Let us know in the comment section below.

Leave a Reply

Your email address will not be published. Required fields are marked *