Pepperstone CEO: “Taking Down Scam Sites Almost Every Day” Becomes “Depressing Daily Business”

Pepperstone‘s Group CEO, Tamas Szabo, has revealed the broker is forced to take down scam websites and fake social media accounts impersonating the firm on an almost daily basis. In a LinkedIn post, Szabo described the persistent impersonation attempts as an ongoing, frustrating challenge for the firm’s fraud team.

“We are having to take down scam websites and social media accounts impersonating Pepperstone on an almost daily basis to protect both our clients and brand,” Szabo said, stressing that it has become a full-time operation for his team. He noted that despite the company purchasing over a hundred domain variants in an effort to prevent misuse, fraudulent sites continue to appear.

Calling Out Domain Registrars and Cybersquatting

Szabo criticized domain registrars for their perceived failure to curb the problem, suggesting that their policies might be facilitating illegal activities by approving deceptive registrations.

“Surely domain registrars should be doing more to stop this. I can only assume what they are facilitating is all just out and out illegal behaviour,” he stated.

The CEO cited concrete examples of cybersquatting where firms register misspelt domains—such as pepperston.com, peppersone.com, and peppperstoe.com—in attempts to redirect traffic away from the official Pepperstone website. He characterized the situation as “frustrating” and “depressingly part of daily business,” reflecting a growing trend of online impersonation targeting financial service providers.

A Global Menace: Warnings Over Clone Websites

Pepperstone is not the only financial institution facing this menace. The problem of fraudulent domains and cloned entities has escalated globally, forcing regulatory bodies to issue frequent alerts.

Regulators worldwide, including the Financial Conduct Authority (FCA) in the United Kingdom, the Cyprus Securities and Exchange Commission (CySEC), and other authorities across Europe, are actively flagging the names of unauthorized brands and clone websites. These warnings specifically detail fraudulent entities that unlawfully use the names, addresses, and license numbers of legitimate, authorized firms in an attempt to deceive investors.

For example, both the FCA and CySEC regularly update their public warning lists, identifying specific rogue websites that meticulously mimic the branding and offerings of compliant brokerages. This widespread phenomenon highlights that the sophistication of online impersonation schemes poses a systemic threat to the integrity of the entire financial ecosystem, forcing both brokers and regulators into a constant state of defense.