The Cypriot financial regulator CySEC issued a warning that scammers are impersonating their officers and offer investors to recover funds they have lost when trading with CySEC-regulated brokers in exchange for a fee.
CySEC does not have any authority or jurisdiction to collect any fees for any purpose from individual investors and it cannot appoint any individuals to do so on its behalf. Also, CySEC does not request any personal or financial data from investors.
After the notice, CySEC listed the typical red flags for a recovery room scam:
-individuals claim they are CySEC officers, or work for some other institution like the Central Bank of Cyprus;
-they contact people who have accounts with CySEC-licensed brokers, often through email and make false promises that they will assist them in getting compensation for potential damages for a fee
-they gain personal information
Recovery room scams seem to go hand in hand with broker scams, unfortunately. Are there any legitimate recovery rooms out there, actually?