France’s Autorité des marchés financiers (AMF) added three financial-services contact identifiers to its identity-usurpation blacklist on November 12, including an email format incorporating the name of German broker Trade Republic and another using the name of cryptocurrency platform SwissBorg. A third entry, tr-brokers.com, was listed seperately.
The regulator’s notices identify the contacts as unauthorised to offer financial products or services in France. They do not accuse the legitimate Trade Republic or SwissBorg businesses of misconduct, identify the people operating the flagged addresses or establish that any customer lost money. Nor does their appearance on the same day’s list prove the entries belong to a single operation.
The new names appeared in the AMF’s public register of unauthorised firms, websites and impersonation contacts. The regulator dates each of the three entries November 12, 2026, but has not disclosed the precise time of the additions.
Trade Republic-themed address differs from broker’s domains
One entry is a generic employee-style email pattern, prénom.nom@market-trade-republic.com. The French words prénom and nom mean first name and surname; the listing describes a contact format, not a named employee confirmed to have sent a message. The domain contains Trade Republic’s brand words but is not among the broker’s published email domains.
Trade Republic tells customers that its legitimate messages come from addresses ending in @traderepublic.com or @news.traderepublic.com. It warns of imitation websites and says it will not request a customer’s PIN or SMS verification code. The AMF entry has no accompanying screenshot, message example or description of what the operator offered investors.
The second entry, tr-brokers.com, was also categorised as identity usurpation. Its initials might suggest a brokerage reference, but the AMF does not identify which authorised business, if any, the domain claimed to represent. There is no verified technical link between it and market-trade-republic.com, and no basis to describe them as a coordinated scam operation.
The warning has historical context. France’s regulator had already listed an email pattern using trdrepublic-app.com in April 2023 and several other Trade Republic-style variants in February 2025. The latest notice therefore adds an identifier to an existing record of brand-like contacts rather than documenting the first occasion investors have seen such a name. The older listings do not identify the controllers of the new domains.
SwissBorg email follows an earlier impersonation warning
A seperate November 12 entry flags swissborg@swissbroad.com. The address displays SwissBorg’s name before the @ symbol, but the actual domain after it is swissbroad.com. SwissBorg says official company email comes only from @swissborg.com and instructs customers not to share passwords, one-time codes or move funds for a supposed security check.
The company issued a more detailed warning on September 25 about a campaign targeting users in France and Switzerland. It said callers and email senders were presenting themselves as SwissBorg advisers or even representatives of authorities such as the AMF and Switzerland’s FINMA, seeking to make users transfer their assets. That established campaign makes a fresh brand-themed contact a relevent concern, but SwissBorg has not publicly connected the newly blacklisted swissbroad.com address to those earlier approaches.
A counterfeit domain can work without taking over the genuine platform’s infrastructure. DaveFinances documented a fraudulent Safe Wallet website promoted through Google advertising, where the visible brand and interface differed from the actual web address. The delivery channel and target were different, and there is no evidentiary link to the addresses named by the AMF.
Blacklist entries do not establish customer losses
None of the new AMF entries specifies an amount solicited, a number of people contacted, a victim tally or a payment destination. There is also no independent confirmation that tr-brokers.com or the other flagged domains delivered malware, stole credentials or gained access to genuine brokerage or crypto accounts.
In another case involving identity misrepresentation, Revolut disclosed customer information following fake government requests made through an official-domain email account. That incident involved a compromised trust channel and disclosed data exposure, which the new AMF notices do not allege. A similarly convincing sender identity does not mean the outcomes were the same.
A fake Zano wallet installer investigated by DaveFinances illustrates another, more technically documented form of impersonation: malicious software distributed as a legitimate wallet update. There is no published evidence that the three new French blacklist entries distribute software at all.
For customers receiving an investment approach, the practical check is the full email domain and the service provider’s verified communication channels, not just a familiar brand name in the sender field. The AMF cautions that its lists are not exhaustive, so the absence of an address from the register is not a certificate of legitimacy.
At present, the regulator has confirmed three dated blacklist additions. Whether the identifiers were used to solicit deposits, impersonate particular employees, or operate in coordination remains unverified. Any firmer conclusions require victim communications, domain records tying the operators together, or further statements from the AMF and the companies whose names appear in the contacts.
Johan Shamshad is Editor-in-Chief at Dave Finances, covering financial markets, digital assets, trading platforms, brokers, fintech, payments and regulation. Since 2023, he has also worked as an editor at Gulf News, the UAE English-language newspaper published by Al Nisr Publishing LLC. His work focuses on market-moving developments, company disclosures, regulatory changes and trading infrastructure, with an emphasis on primary-source verification and practical context for traders and investors.