The Cyprus Securities and Exchange Commission (CySEC) announced this week that it has discovered certain individuals unlawfully using the personal information of people listed in the Certification Registers or in announcements of certification examination results, with the intention of exploiting and defrauding members of the public.

In exercising its responsibilities to safeguard investor protection and ensure the smooth functioning of the capital market, CySEC said that it has temporarily suspended the publication of the Certification Registers and the announcements of certification examination results on its website.

The commission stressed that obtaining certification is a prerequisite for the employment of individuals in supervised entities that provide financial services, in accordance with the Directive for the Certification of Persons and the Certification Registers (Regulatory Administrative Act 44/2019).

“CySEC urges investors, in any communication with third parties concerning investment activities, to verify in advance the entity for which the individual contacting them works for, and to confirm whether that entity is registered on CySEC’s website or with another competent supervisory authority,” the commission said.

“Furthermore, CySEC advises the public to exercise particular caution when sharing personal
information with third parties,” the commisison added.

It also stated that investors should “under no circumstances make any payments before confirming the identity of the entity with which they intend to engage in transactions”.