CSSF warns public about fraud scheme

Luxembourg's financial watchdog has warned the public about a fraud scheme misusing the name of the Luxembourg authorised Bank Julius Baer Europe S.A..

The fraudsters are acting as “Julius Baer Group” or “Banque Julius Baer & Cie SA”, the Commission de Surveillance du Secteur Financier said.

They also use the name of real employees of Bank Julius Baer Europe S.A and offer the investment product "Vision".

The CSSF also warned of the activities of an entity named Emirates Global Investment (website: www.emirglobalinv.com) which offers investment services and claims to be "authorised" by the regulator.

But the CSSF said that it does not regulate the entity, and that it has not been granted any authorisation to provide financial services in or from Luxembourg.

Get the Luxembourg Times delivered to your inbox twice a day. Sign up for your free newsletters here.