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Institutional FX
UBS Settles SEC’s Fraud Charges by Paying $25 Million
It was related to the marketing and selling of a complex investment strategy.
The bank failed to reveal the risks of the strategy to the financial advisors.
Thursday, 30/06/2022 | 08:41 GMT
by
Arnab Shome
Retail FX
Britons Lost over £1.3 Billion to Online Scams in 2021
There was a jump of 39 percent in authorized push payment (AAP) fraud.
Scammers took advantage of the pandemic to trap victims.
Wednesday, 29/06/2022 | 11:00 GMT
by
Arnab Shome
Retail FX
CySEC Expands Warning List, Adds Seven Fraudulent Trading Platforms
Some of these platforms are falsely claiming to have CIF and other regulatory licenses.
Most of them are offering counterparty trading services.
Tuesday, 28/06/2022 | 07:59 GMT
by
Arnab Shome
Retail FX
Three Israelis Arrested for Ties to Forex Fraud Following an International Investigation
The arrested men are expected to be extradited to Italy.
The men allegedly used shell companies to disguise transactions.
Sunday, 19/06/2022 | 13:44 GMT
by
Matti Williamson
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Retail FX
UK FCA Issues a Second Warning against Unauthorized Firm BubbleXT
A warning against the company was issued on October 6, 2020.
BubbleXT is not authorized to offer financial services and products in the UK.
Tuesday, 14/06/2022 | 21:22 GMT
by
Felipe Erazo
Retail FX
Consob Blocks Five New Illegal Financial Websites
Since July 2019, Consob has blocked a total of 708 websites.
Among the websites blocked include Tetris Group Ltd and Bitaroma.
Friday, 27/05/2022 | 18:07 GMT
by
Felipe Erazo
Retail FX
24 People Detained in Moldova for €1.5M FX Investment Fraud
The authorities searched dozens of premises on Wednesday morning.
The victims were from Moldova, Russia and Kazakhstan.
Thursday, 26/05/2022 | 10:12 GMT
by
Arnab Shome
Retail FX
Thailand’s Police Arrest 24 People for Running FX Investment Scam
They were running organized operations of forex investment scams.
They lured victims using fake profiles on dating and chat apps.
Friday, 20/05/2022 | 08:24 GMT
by
Arnab Shome
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Retail FX
CFTC Busts $44 Million Ponzi Crypto Investment Scheme
The alleged perpetrators defrauded at least 170 investors.
They have targeted investors at least since January 2021.
Friday, 20/05/2022 | 05:50 GMT
by
Arnab Shome
Retail FX
CFTC Charges American Resident in $59 Million Illegal FX Scheme
The authority has charged Eddy Alexandre and his company.
Alexandre guaranteed 5% weekly returns to customers.
Saturday, 14/05/2022 | 07:59 GMT
by
Bilal Jafar
Retail FX
FX and Crypto Trading Platform CEO Charged for $59 Million Fraud
He promised investors a weekly return of 5 percent.
He only invested a part of the investors’ funds and suffered a loss of over $6 million.
Friday, 13/05/2022 | 05:17 GMT
by
Arnab Shome
Institutional FX
US Regulators Charge Archegos Capital for $10 Billion Swap Loss
The SEC says its investigation is ongoing.
The CFTC asks for restitution for defrauded swap counterparties.
Wednesday, 27/04/2022 | 18:10 GMT
by
Solomon Oladipupo
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Retail FX
US Regulators Move against $15.7M Forex Trading Scheme
Both SEC and CFTC filed civil complaints against the companies and the owner.
The owner of the firms collected and misappropriated the investor funds.
Thursday, 14/04/2022 | 07:07 GMT
by
Arnab Shome
CryptoCurrency
Scammers Steal $1.6m via New YouTube Crypto Giveaway
The scammers used footage of Elon Musk, Vitalik Buterin and others.
The exact number of victims and total amount of stolen funds remain unknown.
Monday, 11/04/2022 | 06:41 GMT
by
Solomon Oladipupo
Retail FX
CySEC Warns against Fraudsters Impersonating as Regulatory Staff
These scammers target individual investors.
CySEC clarifies that it has no jurisdiction to collect fees from individual investors.
Friday, 08/04/2022 | 11:15 GMT
by
Arnab Shome
Institutional FX
UK FCA Warns on Trading Firm Etradefxlive
The firm is allegedly impersonating E*TRADE.
The company is not authorized by the FCA to target people in the UK.
Tuesday, 05/04/2022 | 21:13 GMT
by
Felipe Erazo
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FinTech
ASIC Is Suing Macquarie Bank over Unauthorized Withdrawals
Transactions through the fees system by third parties were unmonitored.
Macquarie Bank's penalty by the court may be as high as $500 million.
Tuesday, 05/04/2022 | 07:29 GMT
by
Matti Williamson
CryptoCurrency
YouHodler Onboards Sumsub to Fight Identity Fraud in Crypto Industry
YouHodler already uses Elliptic for crypto AML management.
Sumsub will optimize YouHodler’s overall verification costs, the company says.
Thursday, 31/03/2022 | 07:13 GMT
by
Solomon Oladipupo
Institutional FX
French Authorities Blacklist Nine Websites, Warn against Fake FX, Crypto Dealers
AMF, ACPR fingered eight FX, one crypto derivatives unauthorized sites.
They urged citizens to consult the register of authorized investment service providers.
Thursday, 31/03/2022 | 06:43 GMT
by
Solomon Oladipupo
Retail FX
CFTC Receives Consent Order from $7.2M Forex and Crypto Fraudsters
The scam defrauded at least 322 investors.
The regulator is yet to decide on monetary penalties and restitution.
Wednesday, 30/03/2022 | 06:27 GMT
by
Arnab Shome
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Institutional FX
AMF Warns French Retail Investors against Fraudulent Share Offers
Victims of fake investment proposals report an average loss of €55,000.
AMF reiterates caution against offers to buy FDJ shares.
Tuesday, 29/03/2022 | 07:40 GMT
by
Solomon Oladipupo
Institutional FX
US Court Fines Kentucky Men $5m for Commodity Futures Pool Fraud
Men defraud investors of $1.2 million in 2013.
Court orders permanent trading and registration ban.
Wednesday, 23/03/2022 | 15:13 GMT
by
Solomon Oladipupo
Retail FX
Hamas Bans Forex Trading amid Growing Complaints of Fraud
The measure excludes companies or banks that are already licensed.
Gaza banned any transactions related to 'network or pyramid marketing'.
Thursday, 17/03/2022 | 17:33 GMT
by
Felipe Erazo
Regulation
CSA Advise Canadians to Ask Questions before Investing in Cryptos
The authority launched a TikTok campaign about the matter.
Do I understand what I am investing in?
Friday, 11/03/2022 | 19:42 GMT
by
Felipe Erazo
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CryptoCurrency
UK Tax Authorities Seize NFTs for the First Time, Unearthing a Sophisticated Tax Fraud
HMRC confirmed 3 people were arrested on suspicion of VAT fraud.
3 NFTs were seized at the raid and a large amount of crypto assets.
Monday, 14/02/2022 | 13:24 GMT
by
Matti Williamson
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