forex scams
Crypto-Forex Racket in India Dupes 450K Investors of Nearly $420 Million
- Rajasthan scheme caused losses; police recovered vehicles, jewellery, and cryptocurrency after arrests.
- Company directors tell investors “not to panic” and say the situation will “settle soon.”
Monday, 24/11/2025 | 15:34 GMT by
Tareq Sikder
Fugitive Behind Vietnam’s Largest Forex and Stock Scam “Mr. Hunter” Arrested in Philippines: Report
- More than 2,660 victims filed complaints, reporting losses of over VND1.187 trillion, according to local media.
- Authorities now plan to investigate around 550 sales employees linked to the network as more details emerge.
Monday, 17/11/2025 | 18:09 GMT by
Jared Kirui
2 Israelis, 7 Filipinos Arrested for Alleged Forex Trading Scam in the Philippines
- The arrests were made during a raid in an apartment in the city of Angeles, reported 24 Oras.
- The victims of the alleged fraud were from overseas, including Canada and Australia.
Monday, 15/09/2025 | 11:04 GMT by
Arnab Shome
Dubai Police Arrest 4 People Involved in “High and Quick Profits” Online Trading Scam
- The arrested persons allegedly targeted victims through phone calls and social media ads.
- They allegedly prompted victims to transfer funds and subsequently funnel them to accounts outside the UAE.
Tuesday, 22/07/2025 | 07:17 GMT by
Arnab Shome
Israeli Businessman Detained in Morocco Over Alleged Multi-Million Euro Forex Scam
- According to Mako, German prosecutors allege that he ran a foreign exchange trading fraud network for several years.
- The suspect was arrested while on vacation, which reportedly left him deeply “shocked.”
Monday, 21/07/2025 | 08:41 GMT by
Damian Chmiel
Expert Used “Psychological Bullying” to Take $940K from Forex Investors. Now He's Going to Prison
- Mark McCabe provided investors with fake “test” trading accounts where no actual trading took place.
- He misappropriated $940,350 of their funds for personal expenses between 2015 and 2021.
Wednesday, 21/05/2025 | 06:58 GMT by
Damian Chmiel
Telegram, WhatsApp Lead On the Number of Traders Who Lose Money to Scams: Survey
- A joint survey by Finance Magnates and FXStreet found 60.09 percent of traders that fell victim to scams on Telegram lost funds.
- The presence of active traders on Telegram makes it vulnerable to scams.
Thursday, 14/03/2024 | 11:31 GMT by
Arnab Shome
‘Want to Be My Valentine?’: CFTC Sounds Alarm on Romance Scams
- The regulator asked dating and messaging apps and social media users to be wary of any messages from strangers promoting crypto or FX.
- Scammers build an aura of relationships for weeks before pitching fraudulent schemes.
Thursday, 08/02/2024 | 08:30 GMT by
Arnab Shome
CFTC Secures $102 Million Penalties in Highrise Advantage Forex Scandal
- Court documents reveal that Highrise and Singh accumulated nearly $58 million from investors and feeder funds.
- The CFTC initiated a civil enforcement action on September 9, 2020, against Singh, Highrise, and eight other defendants.
Wednesday, 20/12/2023 | 17:39 GMT by
Tareq Sikder
Exploiting Online Platforms: EBC Warns against Impersonators
- The firm offers the official mobile application developed by MetaQuotes and does not offer any in-house alternatives.
- The UK entity does not grant authorization for providing investment recommendations.
Thursday, 23/11/2023 | 10:46 GMT by
Tareq Sikder
How sophisticated fintech upgrades can lead to financial scams and trading fraud
- How do you minimize your risk of being scammed?
Thursday, 06/10/2022 | 12:34 GMT by
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