The Cyprus Securities and Exchange Commission (CySEC) has launched a new quiz designed to help investors assess their ability to recognise investment fraud. The initiative aims to raise awareness of deceptive online advertisements and misleading social media posts, and provide advice to investors.
Online investment scams are rapidly increasing, often promoted through deceptive ads and fraudulent posts promoting investments in foreign exchange, contracts for difference (CFDs), and crypto assets and promising high and quick returns to lure unsuspecting investors. CySEC’s new quiz assists investors to evaluate their skills in identifying the scams and strengthens their ability to protect themselves effectively.
CySEC’s mission is to safeguard investors’ interests and ensure their confidence in the market. Guides on financial education are available through a dedicated section on the CySEC website. The latest initiative also aligns with the main themes of this year’s World Investor Week (6-12 October 2025), which will address the impact of fraud and scams ranging from phishing to “pig butchering.”
At the same time, the European Commission is currently discussing potential new obligations for social media platforms and financial institutions to reduce financial fraud. In May, the European Securities and Markets Authority (ESMA) announced it had written to several social media companies, urging them to take proactive steps to prevent the unauthorised promotion of financial services online.
CySEC will complement its current initiative with a comprehensive awareness campaign across traditional media outlets and its official social media channels, with the objective of maximising public outreach. In parallel, the financial literacy quiz will be disseminated to universities and other relevant domestic institutions. Furthermore, it will be shared with ESMA as well as other national competent authorities, underscoring the significance of international cooperation and the exchange of best practices in the promotion of financial literacy.
Dr. George Theocharides, Chair of CySEC, noted, “Regulators have responsibility to foster a culture of security awareness—not only to highlight risks and improve fraud detection but also to ensure investors benefit from the digital economy. With this new quiz, CySEC provides investors with a practical and accessible tool to assess their knowledge while becoming familiar with the warning signs and risks of online scams. There is also an obligation on CySEC-supervised firms to proactively embrace innovation in fraud management and integrate advanced fraud prevention mechanisms.”
