Compliance Issue – fraudulent crypto campaign YuanPay also promotes CySEC companies!

Spread financial intelligence

Today we have received several emails with the message that larger sums have been credited to our account. We would only have to log into our account quickly to be able to dispose of it. That sounds great, doesn’t it? The reality, however, is that clicking on the links in the emails redirects us to Investments 4 You (http://www.investments4foryou.com), where various fraudulent campaigns are offered. Clicking on the different links in these fraud campaigns takes you via some intermediate pages to the already known YuanPay Group (http://www.yuanpay-system.com) to the StockCore (a/k/a StockLux) broker scam and, even worse, to CySEC-regulated brokers. Again!

Simple fraud patterns

The pattern of these scam campaigns and their principals is not difficult to read. Actually, these fraudulent marketing campaigns with the many false (and totally unrealistic) promises are made completely dumb. It’s almost a miracle that victims keep falling for them. But, unfortunately, many consumers do!

Regulated scammers

What is actually unbelievable is that CySEC-regulated investment firms are working with these fraudulent campaigns, putting themselves on the level of scammers. We are aware of the names of these CySEC-regulated ones. We note that a significant proportion of these fraudulent marketing campaigns are targeted at German-speaking victims. German victims were and are very interesting for the CySEC-regulated investment firms. This is also because the German regulator BaFin is more flexible (rather relaxed) than the Italian Consob or the Spanish CNMV.

We will publish a list of these CySEC firms working with fraudulent campaigns such as YuanPay shortly. It will not be a very short list, so much we can promise.

Share information

If you have any information about the companies and individuals behind the fraudulent campaigns and/or about participating CySEC companies, we would appreciate it if you could share it with us.

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