Deceptive marketing is legally dangerous both for those producing it and for those indirectly benefiting from it.
This article was written by Tal Itzhak Ron, CEO and Chairman of Tal Ron, Drihem and Co and Offshore and Gaming Specialist Aviya Arika.
The world of affiliate marketing is a colorful one, from which new magical creatures keep emerging. With the rise of the 'get rich quick' niche emerged the fairies of content marketing and videos with amazing success stories told 'first hand' by people who managed to get rich from binary options or Forex trading.
Robert Mfune, who was the subject of a recent Finance Magnates article, and his like, are the Cinderellas of this realm. These new age affiliates walked the extra mile and crossed the border beyond 'conventional' get rich quick content marketing and videos to tailoring a whole character, backed by Instagram photos, articles and tweets, of new money young millionaires, who of course, made their sudden fortune out of binary options or Forex Trading.
As if get rich quick marketing wasn't legally dangerous enough already, seems like these 'character affiliates', as we like to call them, made the plot thicken even more. Deceptive marketing is legally considered, in many countries, a malpractice which is banned by law and by different consumer protection regulations.
What bothers legislators and regulatory authorities the most is the damage that deceptive marketing causes consumers. In a suit filed a few years back by the American FTC (Federal Trade Commission) and the state of Connecticut, an affiliate marketing company named LeadClick was held liable for its use of websites that displayed deceptive marketing content related to weight loss products. This liability was determined even though LeadClick wasn't directly responsible for the creation of the content! The test the court used was asking whether substantial damage was caused to consumers.
Deducting from this case, and other cases in other countries, deceptive marketing is legally dangerous both for those producing it and for those indirectly benefiting from it. That is why we believe brokers who use the services of such affiliate marketers should take legal precautions, in order to legally cover themselves in case things go the wrong way.
For example, the brokers Mfune mentions as the ones who are "popular and trusted" may be exposed if he gets into trouble. He presents them while posing as an unbiased young recently rich man, when he is in fact their supplier, legally contractually bound to them- and they are his clients. When they receive leads generated from these recommendations of his, they are in fact cooperating with the deception, and benefit from it.
More about the authors:
Adv. and Notary Tal Itzhak Ron is a General Member of International Masters of Gaming Law (IMGL), practicing Hi Tech, Mobile Applications law, Digital Media, i-Gaming and Financial Entertainment law. Tal graduated from Haifa University School of Law (LL.B.) and Faculty of Computer Science (B.Sc.) and is the CEO and Chairman of Tal Ron, Drihem and Co., Law Firm.
Offshore and Gaming Specialist Aviya Arika is a seasoned professional who have been involved in the gaming and binary options industries for years. Through hands-on experience in the leading financial entertainment law firm Tal Ron, Drihem and Co., working with the firm’s chairman, Ms. Arika's areas of work with the firm extends from offshore and international finance law to regulated licensing and gaming law.
This article was written by Tal Itzhak Ron, CEO and Chairman of Tal Ron, Drihem and Co and Offshore and Gaming Specialist Aviya Arika.
The world of affiliate marketing is a colorful one, from which new magical creatures keep emerging. With the rise of the 'get rich quick' niche emerged the fairies of content marketing and videos with amazing success stories told 'first hand' by people who managed to get rich from binary options or Forex trading.
Robert Mfune, who was the subject of a recent Finance Magnates article, and his like, are the Cinderellas of this realm. These new age affiliates walked the extra mile and crossed the border beyond 'conventional' get rich quick content marketing and videos to tailoring a whole character, backed by Instagram photos, articles and tweets, of new money young millionaires, who of course, made their sudden fortune out of binary options or Forex Trading.
As if get rich quick marketing wasn't legally dangerous enough already, seems like these 'character affiliates', as we like to call them, made the plot thicken even more. Deceptive marketing is legally considered, in many countries, a malpractice which is banned by law and by different consumer protection regulations.
What bothers legislators and regulatory authorities the most is the damage that deceptive marketing causes consumers. In a suit filed a few years back by the American FTC (Federal Trade Commission) and the state of Connecticut, an affiliate marketing company named LeadClick was held liable for its use of websites that displayed deceptive marketing content related to weight loss products. This liability was determined even though LeadClick wasn't directly responsible for the creation of the content! The test the court used was asking whether substantial damage was caused to consumers.
Deducting from this case, and other cases in other countries, deceptive marketing is legally dangerous both for those producing it and for those indirectly benefiting from it. That is why we believe brokers who use the services of such affiliate marketers should take legal precautions, in order to legally cover themselves in case things go the wrong way.
For example, the brokers Mfune mentions as the ones who are "popular and trusted" may be exposed if he gets into trouble. He presents them while posing as an unbiased young recently rich man, when he is in fact their supplier, legally contractually bound to them- and they are his clients. When they receive leads generated from these recommendations of his, they are in fact cooperating with the deception, and benefit from it.
More about the authors:
Adv. and Notary Tal Itzhak Ron is a General Member of International Masters of Gaming Law (IMGL), practicing Hi Tech, Mobile Applications law, Digital Media, i-Gaming and Financial Entertainment law. Tal graduated from Haifa University School of Law (LL.B.) and Faculty of Computer Science (B.Sc.) and is the CEO and Chairman of Tal Ron, Drihem and Co., Law Firm.
Offshore and Gaming Specialist Aviya Arika is a seasoned professional who have been involved in the gaming and binary options industries for years. Through hands-on experience in the leading financial entertainment law firm Tal Ron, Drihem and Co., working with the firm’s chairman, Ms. Arika's areas of work with the firm extends from offshore and international finance law to regulated licensing and gaming law.
Devexperts Checks Off Type 2 SOC 2 Audit for Enhanced Data Security
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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