The Financial Markets Authority (AMF) and the Prudential Control and Resolution Authority (ACPR) warned on Tuesday of the increase in scams on financial products, in particular on cryptocurrencies and fake passbooks.
The common pole of the two institutions added in 2021 more than 1300 websites and entities on its blacklists of fraudulent offers, bringing their total number 3900, he indicated on the occasion of the publication of his annual report. In 2020, 1200 sites or entities had already been added, against 500 in 2019.
Flame of scams
In the first quarter of 2022 alone, the pace increased further, with 248 new registrations list. This growth testifies to a massive presence of schemes, fraudsters and illegal initiatives which accelerated during the pandemic and the increasingly strong action of regulators, explained during a press conference Dominique Laboureix , Secretary General of the ACPR.
Scams linked to cryptocurrencies also continue to multiply: the ACPR and the AMF estimate that the average amount of damages from these scams has doubled since the beginning of the year, 40000 eurosagainst an average of 20000 euros in 2021.
An amount may be underestimated, since it is based on the damage reported to the institutions. However, a certain number of people who have made themselves notches do not want to declare it, reminded Dominique Laboureix.
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Beware of fake booklets
The ACPR and the AMF are also questioning the false savings accounts with attractive remuneration, the amounts of which are deposited quickly disappearing for the benefit of the crooks. Passbook-related scams cost on average 72000 euros their victims, they believe.
The word booklet is used a little all over the place because it gives a serious impressionguarantee, explained Claire Castanet, director of relations with investors and their protection at the AMF.
The two regulators invite beware of all offers of remunerated booklets more than 4%. In the current circumstances, it is complicated to keep such a promise, assured Grégoire Vuarlot, director of the control of commercial practices at the ACPR.
Overall, scams on loans, savings accounts, payment services or insurance contracts represent 90% of all financial product scams.
Victims of scams on financial products do not have a typical profile, according to regulators. The latter are nevertheless concerned about those that target the less fortunate, such as the vulnerable elderly or young people.
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