CVM alerts for increased fraud in alleged investments

Segundo a CMVM, scammers often seek to establish a relationship of trust with potential victims, taking advantage of the lack of information or experience in financial matters, through phone contacts, SMS, WhatsApp, e-mail or social networks like Facebook, Instagram, YouTube and TikTok.

The offers presented are in many cases apparently very attractive, with promises of high or guaranteed income and without risk.

The perpetrators of fraud seek to convey an image of credibility, using technical language and presenting themselves as knowledgeers of financial products and markets.

Among the warning signs identified by the CVM are the pressure for a quick decision, without the possibility of consulting family, friends or professionals, and attempts to drive the victim away from people who can alert her to the possibility of fraud.

Swindlers can also present themselves as friends, distant family members, neighbors or representatives of known entities, using conversations, presentations or demonstrations to create a reliable environment.

The entity also alerts the existence of advertising campaigns that include videos, news and other false content, using abusively the name and image of public personalities or recognised institutions.

The use of new technologies, including Artificial Intelligence (IA), is also facilitating the spread of these schemes, so the CVM advises investors not to assume as authentic videos, news, interviews or other content on social networks just by presenting known personalities or official institutions.

The CVM also underlines that it never contacts investors through the WhatsApp application and that its contacts are made exclusively through senders with the “@cmvm.pt” domain, warning the existence of similar but not legitimate domains.

In the face of a suspicious contact, the entity recommends that no attachments be downloaded, links are accessed, or advertising clicked, nor is remote access allowed to the mobile phone or computer by screen sharing applications.

The CVM also advises not to provide bank credentials or personal data, not to transfer money to alleged recoveries of previous investments or to pay alleged commissions, insurances, taxes or other administrative expenses.

It is also advised not to deposit funds or invest in products submitted by unverified contacts.

Before making any investment, investors should verify that the entity presenting the opportunity is allowed to operate in Portugal, through the list of authorised financial intermediaries made available by CMVM.

Through the Institutional Portal or the CVM Investor Portal it is possible to verify the veracity of the information that is shared, including alleged news disseminated by media.

If you receive fraudulent contacts or requests, investors may contact the Investor Support Line via the number 800 205 339 or by email address .

The CVM notes that contact with the authority does not replace the need to file a complaint with the competent authorities for the investigation and prosecution of criminal offences.