Latvian financial regulator warns about fraudulent calls to Italy and France

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The Financial and Capital Market Commission (FKTK), the regulator of the Latvian financial sector, is warning the public about fraudsters, who make phone calls to randomly selected inhabitants of Italy and France claiming to be its representatives.

"The callers provide false information in Russian (but may speak also in another language) and require person to perform different activities, such as disclosing names and personal data, terminating cooperation with financial institutions, opening special website addresses on the internet and performing activities in accordance with instructions. Callers may offer to recover funds invested by a person in exchange for remuneration," the FKTK said in a warning statement.

Te regulator recommends recommends terminating the call in such situations and stresses that employees of the FKTK do not call to customers of financial institutions except when "customers of financial institutions, according to their own initiative, have approached the FKTK regarding clarification of an issue they are interested in and an agreement has been reached on a further conversation via phone."

The regulator also notes that it would never ask for personal banking information, and does
not principally communicate in Russian.

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