Asset management: the necessary vigilance against usurpers

The warning comes to us from the Authority of financial markets (AMF) and numerous players in the field of asset management and heritage. She invites us to always demonstrate of vigilance faced with a rise in cases usurpation names of professionals in this sector.

Among the signatories of this call for vigilance are therefore the Authority of financial markets as well as recognized players in the field of asset management and of heritage, including AFG, ASPIM, France Invest, Anacofi, Cie CIF, CNCGP and CNCIF. These different entities all speak with the same voice to remind savers that the caution is more than ever necessary in the face of the increase and the sophistication of the fraudulent process who use the names of recognized intermediaries or financial products authorized.

Gestion de patrimoine : la nécessaire vigilance face aux usurpateurs

From targets of these usurpations, we find in particular civil societies of real estate investment but also placements in airport car parks. The number of savers who lose money due to scams helping oneself usurpations is constantly increase. This form of financial delinquency is responsible for 44% of the sums that savers report having lost in 2020 on the platform AMF Epargne Info Service.

The victims who made reports lost on average €45,000. There are more and more of them apply to the AMF but also the associations or syndications professionals whose name or logo is regularly used fraudulently. Among the entities whose identity is commonly misappropriated, we find the French Association of the financial management and the French Association of the companies of real estate investment. Scammers, to achieve their ends, also use the logo or name of France Invest and of the National Association of the financial advisors. They also regularly attack savers who trust the CIF Company or the National Chamber of Commerce. advisors in management of heritage and that of advisors financial investment.

Hijack identity of one or more professionals in the sector is anything but a recent phenomenon. But the AMF and the entities involved in this area are alarmed of the growing scale cases of scams hitting people who trust them. There situation is all the more critical that techniques used are increasingly sophisticated, to the point that many victims are simply incapable to know if they are dealing with a real professional or a scammer.

The financial scams are likely committed in band particularly organized. They are also sprawling, striking several specialized companies in the asset management, French or European. Among their victims are also specialist advisors in the financial investments or wealth management. The perpetrators of these scams also strike by promising substantial returns through investment products of which nothing seems to suggest that they are fraudulent.

Reproduce identical to the websites is part of the techniques used by the authors financial scams. But they don't stop there. They win the trust of their victims by writing contracts which, to make them appear convincing, display the name and logo but also the approval number or authorization of real financial intermediaries. Their mode of operation also includes creation of Internet addresses or e-mail close to those of professionals of the sector, or even the use of the real addresses of the latter.

The scammers offer formulaires in line who do not give many details but whose promises of yields significant are often enough to deceive their victims. Convinced that they are dealing with real people lucrative investments, the latter willingly give their name, telephone number, e-mail and other personal data.

To complete the deception, false advisors or managers showing themselves confident in the viability of the investments call savers, asking them to conclude the transaction at most quickly since it is a rare opportunity Do not miss. The technique works. The proof is that the Financial Markets Authority notes that many of the victims confess have accepted the proposal scammers under the pressure, without taking the time to check the details.