Filenews 13 February 2026
The Cyprus Securities and Exchange Commission (CySEC) is participating in the International Organization of Securities Commissions' (IOSCO) global information campaign to tackle investment fraud through emotional exploitation.
The initiative, implemented on the occasion of Valentine's Day, aims to inform the public about the increasingly sophisticated forms of fraud, known as romance scams, crypto investment scams or "pig butchering", and the serious implications they can have for the financial future of victims.
How the scam works
According to CySEC, the perpetrators approach the victims through messages from unknown numbers, dating apps or social media platforms. With the method of "long con", they gradually cultivate a relationship of trust, presenting themselves as friends, romantic partners or financial advisors.
Once trust is established, they promote supposedly high-yield investment opportunities, directing victims to professionally designed yet deceptive websites that mimic legitimate platforms. When significant sums are invested, the astute disappear.
International dimensions
IOSCO estimates that fraud of this type has caused tens of billions of dollars in damages worldwide, being one of the fastest-growing forms of financial fraud.
CySEC's commitment
CySEC states that it remains committed to strengthening investor protection and financial education, seeking to:
Recognising warning signs of such scams
Encouraging special attention to unsolicited investment proposals
Empowering citizens with knowledge to protect themselves and their loved ones
On the occasion of Valentine's Day, the Authority calls on the public to be vigilant, to recognize the signs of fraud and to contribute to the dissemination of information, in order to limit incidents of investment fraud through an emotional approach.
