- A New CySEC-like Clone Website to Look Out For

Watch out for a new clone website that poses as the legitimate website of the Cypriot regulator CySEC. The clone website is cysecgroups dot com. It has a surprisingly large list of entities it claims are regulated, but the majority are in fact offshore brokers, scams and even some actual regulated brokers, likely to make themselves look legitimate.

The website has a bunch of other subsections, such as Vision, Mission & Responsibility, Regulatory Framework, Public Information domain and others. Someone put in a lot of effort to build this website.

One has to look into the details to notice that the website is fraudulent when compared to the original CySEC website (which is cysec dot gof dot cy). Experienced traders will probably notice them fast, but newbies will likely be easily mislead.

I cannot help but wonder who is behind this. Is it a single scammer hiding among the other scammers presented as legitimate brokers, or a bunch of scammers united to conduct this scheme. Either thought is disturbing.