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CSSF warns of fraudsters using BIL name
Fraud

CSSF warns of fraudsters using BIL name

by John MONAGHAN 22.11.2022
Impostors are misusing the name of the bank to scam unsuspecting clients
Headquarters of Banque Internationale à Luxembourg
Headquarters of Banque Internationale à Luxembourg
Photo credit: Guy Wolff

Investors should beware of fraudsters offering scam trading services through one of Luxembourg's main banks, the Banque Internationale à Luxembourg (BIL), the country's financial regulator CSSF warned on Tuesday.

Impostors are advertising the fraud in so-called 'Tiger Trade' blogs, claiming that the trading accounts would be opened with BIL, the CSSF said in a statement on its website.

BIL has "no connection" with the services being offered by the fraudsters, Luxembourg's financial regulator added.

In an unusual move last week, the CSSF issued a warning concerning itself, advising people to be vigilant against fraudsters sending emails using the name and logo of Luxembourg's financial regulator.  


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