The Croatian Financial Services Supervisory Agency (Hanfa) issued a warning about a fraud scheme targeting Croatian citizens through telephone calls offering participation in the supposed initial public offering (IPO) of Emirates Global Aluminium (EGA) and seeking deposits to take part. Hanfa noted that participation in public offers is not typically marketed by phone and that EGA has not formally announced the start of a public offering process. It also warned that callers claiming to be employees of cTrader are misrepresenting themselves, since cTrader is trading software used by brokerage firms rather than a brokerage firm. Consumers were urged not to make payments to suspicious entities and to verify authorisation to provide investment services in Croatia through the Hanfa Registers.
Croatian Financial Services Supervisory Agency 2025-10-30
Croatian Financial Services Supervisory Agency warns of scam calls promoting a purported Emirates Global Aluminium IPO
The Croatian Financial Services Supervisory Agency (Hanfa) warned of a fraudulent scheme targeting citizens via phone calls offering participation in a non-existent initial public offering of Emirates Global Aluminium. Hanfa clarified that EGA has not announced any public offering and that cTrader is trading software, not a brokerage firm. Citizens are advised to verify authorisation of investment services through Hanfa Registers and avoid payments to suspicious entities.