SPK Warns Against Fraud Attempts: Caution Against Money Demands Using Institution's Name

The Capital Markets Board (SPK) has issued an important announcement regarding fraud attempts where individuals impersonate Board executives or employees, or use the names of the SPK Chairman and personnel, to solicit money or donations from individuals and organizations. The Board urged investors and the public to be vigilant against such activities.

According to the SPK's statement, these increasing fraudulent acts involve malicious individuals using various communication channels to make financial demands from citizens and companies under different pretexts. These demands typically come via phone, SMS, email, or social media platforms, carried out by individuals posing as Board personnel or their relatives.

The Board explicitly stated that such attempts constitute fraud under the Turkish Penal Code (Law No. 5237). The SPK emphasized that neither the Board nor its personnel would ever request money, donations, or any material demands through communication channels such as phone, SMS, email, or social media. Therefore, it was strongly advised not to trust such suspicious requests.

Ensuring security in capital markets and protecting investors are among the primary duties of the SPK. Such fraudulent attempts can undermine trust in the markets and lead to significant financial losses for individual investors. This situation once again highlights the importance of financial literacy and cybersecurity. Similar financial fraud cases are known to be increasing globally.

Individuals who fall victim to these methods should immediately file a criminal complaint with the authorized judicial authorities and exercise their legal rights to claim compensation for their losses. The SPK advises citizens to verify suspicious situations and never share personal information before contacting the Board if they encounter such incidents. Market experts remind investors to only conduct transactions through licensed and reliable brokerage firms and to be cautious of attractive but unrealistic promises of returns.