The MFSA warns about impersonation scam risks, urging the public to verify communications and protect personal information.
The MFSA warns about impersonation scam risks, urging the public to verify communications and protect personal information.
The Malta Financial Services Authority (MFSA) warns of impersonation scam risks, urging the public to be cautious with unsolicited communications. The warning, issued today, highlights an increase in fraudulent activities involving individuals or entities falsely claiming to represent the MFSA.
According to the regulator, the public should be wary of unexpected messages, emails, or documents that seem to originate from the MFSA or other local authorities. Furthermore, common signs of fraud include urgent or threatening requests for personal information or payments, low-quality logos, and grammatical errors in communications.
Another red flag is the use of email addresses that do not match the official MFSA domain and text messages from unknown private numbers. The MFSA emphasizes the importance of vigilance, mainly when dealing with unsolicited messages, even if they appear to come from familiar sources. Individuals should carefully scrutinize any communication that requests sensitive information or money.
To combat potential scams, the MFSA advises verifying the legitimacy of any financial service provider by checking its license on the authority’s official website. Moreover, the MFSA encourages the public to cease communication with any entity until it confirms its authenticity through proper channels.
Additionally, the regulator urges individuals to ensure the entity is authorized before providing personal or financial details. In a related move, the Cyprus Securities and Exchange Commission (CySEC) also warned about increased sophisticated financial scams.
Scammers have been impersonating CySEC and using fake websites or email addresses to deceive investors. The agency warns the public to be cautious of fraudulent entities that misuse the names and likenesses of well-known individuals. Both regulators urge anyone who suspects they are dealing with unauthorized financial entities to stop all communication immediately and report the matter through official channels.
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