CySEC Warns Against Unlicensed Investment Websites and Fines Streams Financial Services

The Cyprus Securities and Exchange Commission (CySEC) has this week issued a stark warning to investors concerning a number of unauthorised websites that are not permitted to provide investment services or carry out investment activities within the Republic of Cyprus.

In its official announcement, CySEC listed several websites that, according to the regulator, are not connected to any entity authorised under Article 5 of Law 87(I)/2017. The domains identified by the commission include: enfodns.com, ca-xe.pro, kamislaran.com, heromarkets-it.com, itradingfx.net, prestigepeakcapital.com, gomarketfx.com, and coreinvests.eu.

CySEC advised the public to remain vigilant and always refer to the commission’s official website at www.cysec.gov.cy before entering into any transactions with investment firms. The regulator highlighted that ensuring a company is properly licensed is essential for investor protection and maintaining the integrity of the broader financial market.

“CySEC urges investors to consult its website before conducting business with investment firms, in order to ascertain the entities, which are licensed to provide investment services and/or investment activities,” the statement noted.

In a separate development, the regulatory body also announced the imposition of an administrative fine amounting to €7,000 on Streams Financial Services Ltd. This decision was approved during a board meeting held on March 17, 2025.

The fine stems from a violation of Article 54(1) of Regulation (EU) 2019/2033, which pertains to the prudential requirements of investment firms. The breach was additionally outlined under Articles 1(1)(a) and 2(1)(a) of Delegated Regulation (EU) 2021/2284.

According to CySEC, Streams Financial Services Ltd failed to submit its quarterly report for the period ending September 30, 2024, by the regulatory deadline of November 11, 2024. The missing report was required to include all information stipulated by applicable regulations, and the delay in its submission was deemed a breach of the company’s legal obligations under the European framework.

CySEC continues to remind firms and investors alike of the importance of compliance with reporting standards and of verifying the legitimacy of financial entities before engaging in business.

By fLEXI tEAM