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The Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR), as part of of their respective missions of protecting retail investments and the clients of the banking and insurance sectors, call upon the public to show the greatest vigilance in the face of a risk of scams in the context of the covid‑19 epidemic and falling financial markets.
These fraudulent offers may take several forms, such as proposals presented as being safe-haven investments in tangible goods (such as gold, precious metals, fine wines or whiskies, etc.), fake banking or insurance products combining highly attractive features (high returns and no risk, quick subscriptions without any borrower background checks, etc.), fraudulent calls for donations, or investments in companies (listed or not) that claim to benefit from the epidemic and see their value rise.
At a time when French people are confined to their homes and making greater use of internet, the AMF and the ACPR call on them to be even more vigilant as regards any direct marketing campaigns by telephone, fraudulent emails claiming to come from trustworthy third parties (a bank, administration, energy supplier, etc.) and also advertising banners linking to forms to be completed. Scammers use these techniques in order to collect personal data (telephone numbers, card data or banking identifiers, information on current investments and assets, etc.), which will then be used to commit fraud (online purchases, usurping identities, etc.) or for the purposes of aggressive or manipulative direct marketing in the case of financial scams.
The two authorities remind you that such fraudulent offers adapt very quickly and often exploit topical events. In their monitoring activities, the AMF and the ACPR have already noted that unscrupulous actors are using keywords linked with the covid-19 virus and employing misleading pitches seeking to play on people’s fears.
As a general rule, the AMF and the ACPR remind you of the precautions to be taken and rules of vigilance to be observed before making any investment or subscription:
Do you have any questions? For all information, go to the following websites:
You can also download the AMF Protect Epargne application available on iOS or via the following link on your browser: https://protectepargne.amf-france.org/
About the AMF
The AMF is an independent public authority responsible for ensuring that savings invested in financial products are protected and that investors are provided with adequate information. The AMF also supervises the orderly operations of markets.Visit our website https://www.amf-france.org
About the ACPR
The Autorité de contrôle prudentiel et de résolution (ACPR) is the administrative authority operationally attached to the Banque de France that supervises the banking and insurance sectors and ensures financial stability. The ACPR is also responsible for protecting the customers of the supervised institutions and ensuring the fight against money laundering and the financing of terrorism. It also has resolution powers. The ACPR’s operational departments come under its General Secretariat. Visit our website at https://acpr.banque-france.fr/