Bulgaria's Financial Supervision Commission (FSC) has warned of fake Facebook profiles that use the name of the Bulgarian Association of Management Companies (BAUD). The profiles offer deals in financial instruments and asset management.
The people behind them pose as dealers. They copy the association's name, visual identity and way of communicating. The FSC says the messages carry a risk of deception and financial fraud.
The commission called on anyone who gets such an offer to be careful. The first step is to check whether the profile is real and who is behind it. Until it is clear that the person or organisation is legitimate, people should not give out personal details, or details that give access to financial accounts or funds.
If you suspect fraud, the FSC advises checking the list of licensed companies on its website, https://www.fsc.bg/. The list has details of these companies, including the online channels they use to deal with clients.
BAUD is the first association of professional portfolio managers of mutual funds in Bulgaria. It was founded on 30 November 2004. Its members are 28 management companies with 146 funds, which hold assets of almost €2.2bn.