The Malta Financial Services Authority (MFSA) has issued a
warning today (Friday) about potential impersonation of its officials. Individuals or entities
may be circulating documents, messages, and emails falsely claiming to come
from the MFSA.
The Authority advises the public to be vigilant and cautious
when receiving unsolicited communications, even from familiar sources.
Identify Potential Fraud Red Flags
Indicators of potentially fraudulent documents or emails
include unexpected or unusual communication from the MFSA or local authorities.
Other signs to watch for are urgent or threatening language requesting payments
or personal information, low-quality logos, and spelling or grammatical errors.
References to unlicensed financial service providers and
email addresses that do not come from the MFSA domain are also red flags.
Additionally, text messages from private numbers claiming to be from the MFSA
should be treated with suspicion.
Meanwhile, the Cyprus
Securities and Exchange Commission (CySEC) has issued warnings about a
recent increase in sophisticated financial scams aimed at investors across
various channels. This includes instances of scammers impersonating the
regulator and exploiting the likenesses of well-known individuals and
celebrities.
In a statement, CySEC informed the public about fraudulent
websites and email addresses falsely claiming to be associated with the
regulator, as reported by Finance
Magnates.
Checking License before Engagement
If there is any doubt about the authenticity of an email or
document, the MFSA suggests verifying the entity’s license on its official
website. It is recommended to cease communication and refrain from providing
further information or funds until confirmation is obtained. Individuals should
also contact the MFSA through official channels for verification.
The MFSA reminds the public not to engage in any financial
transactions without ensuring that the entity is authorized to provide such
services by the MFSA or another reputable financial regulator.
The regulator suggested: “If you are a victim of a scam or
think you might be dealing with an unauthorised entity or any other type of
financial scam, first of all stop all transactions with the company and contact
the MFSA.”
This article was written by Tareq Sikder at www.financemagnates.com.
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