CySEC Launches new cautionary awareness campaign

Founded in 2006, the Cyprus Securities and Exchange Commission(CySEC) has proved to be one of the busiest and most informative regulators in the world. Just this Tuesday, the commission began a new campaign aimed at educating investors about investment scams and fraudsters around the world.

In addition to protecting investors from social or emotional pressure and the inherent risk of “ Gamification”, the campaign will promote rational reasoning as an alternative, as well as promote market knowledge.

The Cypriot watchdog started the campaign in reaction to the rising number of unsafe and complicated investment “opportunities” that are advertised on social media platforms or other well-known platforms, sometimes too young and inexperienced users who are nevertheless very keen to invest.

The overseer made a statement expressing concern about the rising number of young and inexperienced market participants as well as the explosive growth of social media content pertaining to FX and CFD trading, particularly cryptocurrency. FX and cryptocurrency advertisements “offer sophisticated products that are not necessarily what they seem,” the chairman of CySEC, Dr. George Theocharides, cautions everyone.

On the same note, CySEC wishes to draw attention to the “gamification” phenomenon, which is growing in popularity and refers to the tailoring of investing mechanics to resemble video games in order to make the entire process appear much simpler than it actually is. CySEC expressly denounces these methods. However, CySEC has not yet implemented any real-world gamification strategies.