The Malta Financial Services Authority (“MFSA” or “the Authority”) has become aware that a number of individuals have received unsolicited calls from persons falsely claiming to represent licence holders, providing investment advice or other financial services.
The MFSA wishes to warn the public to exercise caution when receiving such calls and to verify the identity of any caller claiming to act on behalf of a licensed entity. Consumers should independently confirm, through the official channels, that they are dealing directly with a licensed financial services provider before engaging in any further communication or financial transactions.
- Confirm the caller’s identity
- Verity the licence holder’s official channels
- Do not act under pressure; and
- Do not share confidential or sensitive information
The MFSA would like to remind consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator. Investors should also be extra cautious when being approached with offers of financial services via unconventional channels such as telephone calls or social media.
A list of entities licensed by the MFSA can be viewed on the official website of the MFSA at https://www.mfsa.mt/financial-services-register/. For more information on financial scams please refer to the MFSA scam awareness document to keep yourself informed on red flags which help consumers of financial services to identify such financial scams.
If you are a victim of a scam or think you might be dealing with an unauthorised entity or any other type of financial scam, first of all stop all transactions with the company and contact the MFSA at https://www.mfsa.mt/about-us/contact/ as soon as a suspicion arises.
