The Austrian Financial Market Authority (FMA) warns about a fake account on the WhatsApp messaging service, using FMA Executive Director Helmut Ettl’s name and photo, that apparently gives recommendations about certain shares. The account as well as the messages sent by the account are not authentic. The police and telecommunications providers have been informed.
WhatsApp users, who receive messages from this fake account, should ignore the messages, report the account and then block it. As a general rule: representatives of the FMA would never recommend to buy or sell specific financial instruments. Such recommendations doing the rounds in the FMA’s name or those of its executive directors or staff members can safely be classed as fakes with a deliberate intention to defraud.
Fraud attempts using deepfakes, identity theft conducted with a fraudulent intention, or similar activities are known as “authority scams”, and give off the impression urging an official body or person to conduct certain activities or actions. This may be the recommendation for specific investments or transactions, or being tricked into giving out passwords, PINs, account numbers or similar items. The frequency of such authority scams has increased recently: in the past month, for example, there was a fake video of OeNB Governor Robert Holzmann.
The FMA thanks the whistleblower, who have reported the fake WhatsApp account, and appeals to all social media to ignore suspicious content and accounts, and to report and block them. This helps to stop such harmful content from spreading.
Further information
- “Let’s talk about money” on Authority Scams
- The Oesterreichische Nationalbank’s warning about the Deepfake featuring Governor Holzmann (in German only).
- Information from Watchlist Internet on Internet fraud (in German).
Journalists may address further enquiries to:
Boris Gröndahl (FMA Media Spokesperson)
Telephone: +43 (1) 249 59-6010
Mobile: +43 676 8824 9995
E-Mail: [email protected]