Warning regarding investment and recovery scams

The CSSF warns the public about the risks associated with installing remote access software on a computer. Such software is frequently used by fraudsters in the context of investment fraud and recovery scams.

In investment fraud schemes, scammers posing as investment advisers or representatives of trading platforms persuade their victims to install such software under the pretext of assisting them with transactions or account setup. Once installed, the fraudsters gain control of the computer, allowing them to carry out fraudulent transactions, steal funds or sensitive information.

In recovery scams, fraudsters contact individuals who have already fallen victim to financial fraud, claiming they can help them recover their money. Under the guise of providing technical or administrative assistance, they also request the installation of remote access software. Their true intent is to extract additional funds from the victim, often by claiming administrative fees or directly initiating transfers from the victim’s bank accounts.

The CSSF strongly advises against installing remote access software at the request of a third party, particularly if the request comes from an unknown individual or someone met online. In case of doubt, it is recommended to contact your bank or the CSSF directly.

Remain vigilant and protect your personal information.