The Austrian Financial Market Authority (FMA) issued a warning about a fake WhatsApp account using the name and photo of Executive Director Helmut Ettl and apparently sending recommendations on certain shares. The FMA said the account and its messages are not authentic and that it has informed the police and telecommunications providers. WhatsApp users who receive messages from the fake account are advised to ignore them, report the account and then block it. The FMA stressed that its representatives never recommend buying or selling specific financial instruments and that such communications in the name of the FMA, its executive directors or staff should be treated as fraudulent “authority scams”, including attempts using deepfakes or identity theft to solicit passwords, PINs or account details. It noted a recent increase in these scams, citing a recent fake video featuring Oesterreichische Nationalbank Governor Robert Holzmann, and urged users to report and block suspicious content to limit its spread.

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