Germany’s financial regulator BaFin is warning the public that scammers are misusing Invesco’s name and address to promote unauthorized trading accounts.
Fake Calls and Emails
According to BaFin, alleged Invesco employees have been contacting individuals by phone and email without consent. The calls and messages offer the chance to open trading accounts that appear linked to Invesco’s German branch. The regulator clarified that this impression is false.
“This is a case of identity theft,” BaFin said. The authority stressed that no genuine Invesco employee would ever contact consumers unsolicited or attempt to sell products via email or WhatsApp.
“The impression is given that the trading accounts offered are connected to the Invesco branch in Germany, which is supervised by BaFin. This is not the case,” the regulator cautioned. “This is a case of identity theft. No Invesco employee would call consumers unsolicited or try to persuade them to invest in Invesco products via email or WhatsApp.”
Under German law, only authorized firms can offer banking, financial, investment, or crypto-asset services. BaFin underlined that several companies still operate without the required license, exposing consumers to high risks.
To protect themselves, investors are encouraged to consult BaFin’s online company database, which provides details of all authorized institutions.
Investor Caution Urged
The regulator’s latest warning highlights a growing trend of fraudsters exploiting the names of reputable financial institutions to gain credibility. By mimicking Invesco’s identity, scammers seek to lure unsuspecting investors into fraudulent schemes.
BaFin urged the public to remain vigilant and verify any investment offer, especially if it involves unsolicited calls or emails claiming to represent well-known firms.
Expect ongoing updates as this story evolves.
This article was written by Jared Kirui at www.financemagnates.com.Retail FXRead More
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