French AMF issues OFI impersonators scam warning

fma warns against unregulated company

The Autorité des marchés (AMF) has just warned the public against the fraudulent use of the names and contact details of the Sicav Objectif Finance Investissements (OFI) company. The official warning can be seen below:

Fraudsters falsely claim to belong to Objectif Finance Investissements (OFI) and make fraudulent use of the name and details of that company. Those individuals contact clients with the supposed aim of redemption of ‘investment blue gems’ that would have been purchased on illegal platforms, subject to a deposit.

The AMF recommends that investors do not take up these solicitations and do not communicate them to third parties, in any form whatsoever.

Lastly, the AMF reminds investors and individuals responsible for marketing investment products to follow these safety guidelines before making any investment:

  • no advertising materials should make you overlook the fact that high returns always involve high risk;
  • learn as much as you can about the company or intermediary trying to sell you a product (authorization/certification, company history, location of head offices, etc.);
  • only invest in a product you understand;
  • ask yourself how, and by whom, the purchase price or selling price of the advertised product is set, and find out the precise terms and timeline for selling the product, especially in cases where the product invests in an asset class with low liquidity.

This is the second impersonators scam warning lately – CySEC has issued a similar warning just two weeks ago.

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