Financial 'boiler rooms' are not for summer
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The CNMV warns that in summer, with more leisure and online time and more tourists on the coast, the risk of falling for unauthorised firms rises: entities offering investment or crypto-asset services without being registered. It also warns about 'data brokers', websites that collect personal data through tests or free reports and sell it on.
Key points
- Increasingly aggressive approaches by phone and email, and also in hotels and tourist areas.
- They use attractive websites, the client's language and fake news made with AI and deepfakes.
- It advises checking the CNMV register and reporting any contact.
Who is affected
Retail investors and tourists in Spain.
Plain-language version
The CNMV, Spain's investment watchdog, warns that scams rise in summer: unauthorised firms offer you investments or crypto without a licence. It also warns about websites that ask for your data in exchange for a free test or guide and then sell it. If someone contacts you like this, be wary and check the CNMV register.
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