With the rise of sophisticated financial technology and the widespread use of social media to promote investment, the Cyprus Securities and Exchange Commission (CySEC) has taken a look at the behavior and habits of European investors in a survey published on January 25.

When it comes to checking whether companies selling investment products are licensed to operate, 15 percent of respondents said they don't do any checks at all. Most (51%) said they looked at a company review or a company's own website (44%), but only a third of investors (30%) looked up the company on a national regulator's website to check if it was licensed.

In addition, the Cyprus regulator published a list of company websites on the same day, and none of the five listed websites belong to any Cyprus Investment Company (CIF). CySEC hereby urges investors to consult its website (www.cysec.gov.cy) before entering into transactions with investment companies to identify entities licensed to provide investment services and/or investment activities.