France’s AMF warns of fraudsters abusing its name

France’s financial markets regulator AMF today issued a warning regarding a firm named J & B Groupe.

Representatives of the firm have been contacting former clients of fraudulent investment companies, offering them help to get back the money lost. The French regulator is concerned that these cold callers are falsely claiming to be representatives or affiliates of AMF.

AMF has also obtained some of the documents used by this firm and is particularly worried that these documents contain the regulator’s logo.

The regulator urges all people who have been contacted or will be contacted by “ J&B Groupe” not to respond to such solicitations. AMF wishes to reiterate that its mediation procedures are free of charge.

AMF is not the first financial regulator to report such abuse of its name. Last month, Hong Kong’s Securities and Futures Commission (SFC) warned against cold callers using its name to offer investment opportunities. In the past, UK’s Financial Conduct Authority has also alerted the public about similar fraudulent schemes.

To view the official announcement from the French regulator, click here.

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