The transition to the euro will not necessitate the re-signing of existing contracts, Vasil Golemanski, Chairman of the Financial Supervision Commission (FSC), has clarified.
He warned the public about a wave of scams exploiting uncertainty around the euro adoption process. Golemanski emphasized that individuals were being targeted with misleading offers that involved signing new agreements related to the currency change, particularly involving pensions, insurance or investment products.
“If someone approaches you with a proposal to update or re-sign a contract because of the euro, don’t fall for it. That’s a scam,” he said.
According to Golemanski, these fraudulent schemes often involve promises of high returns within a short timeframe and with no associated risk – an immediate red flag.
He encouraged consumers who encountered such situations to promptly contact the Financial Supervision Commission. The safest course of action is to obtain the name of the individual or company making the offer and check with the FSC to see if they are properly licensed and regulated.
Golemanski reiterated that Bulgaria’s euro adoption process would not affect the validity of currently active financial agreements, and any claims to the contrary should be viewed with caution. (Novinite)