The US SEC fingered Oracle's subsidiaries in Turkey, UAE and India in its investigation.
The regulator penalized Oracle $2 million in 2012 for the same offence.

Tuesday, 27/09/2022 | 18:24 GMT by Solomon Oladipupo

Retail FX

UTrade Owner Aviv Talmor Convicted in Israel for $22M Fraud

He was indicted in 2018.
The firm now owes $12 million to defrauded clients.

Wednesday, 14/09/2022 | 07:14 GMT by Arnab Shome

Exchanges

Runaway Thodex Crypto Exchange CEO Arrested in Albania, Turkey Says

Fatih, who fled Turkey in April last year, was rounded up in Vlorë in Southern Albania.
Turkish prosecutors are seeking jail sentences of up to 40,564 years.

Friday, 02/09/2022 | 13:10 GMT by Solomon Oladipupo

Binary Options

SpotFN Operator Pleads Guilty to $2.9 Million Binary Options Fraud

David Butler, 52, was arrested in April and extradited from Costa Rica in July.
Butler and his co-conspirators used computer software to manipulate binary options data.

Wednesday, 31/08/2022 | 21:07 GMT by Solomon Oladipupo

CryptoCurrency

Ivars Azuins Was Extradited to the United States, Charged with Wire and Securities Fraud

Between 2017 and 2019 more than $7 million were sent to Auzins' entities.
Alexander Vinnik was extradited to the United States from Greece.

Sunday, 28/08/2022 | 13:29 GMT by Matti Williamson

Analysis

FinTech

Analysis

Is the UK FCA Doing Enough to Stop Investment Scams?

According to UK Finance, investment scam victims lost £171.7 million in 2021.
The FCA says it can only prosecute fraud as a private prosecutor.

Monday, 01/08/2022 | 08:30 GMT by Solomon Oladipupo

Retail FX

US Court Hits FX and Binary Options Pool Fraud with $29M in Penalty

The scheme operated for five years.
The operators misappropriated funds and made Ponzi payments.

Monday, 18/07/2022 | 06:14 GMT by Arnab Shome

Retail FX

CFTC Sanctions Commodity Pool Operator with $13 Million

David Seibert was ordered to pay $10,794,508 in restitution to victims of his scheme.
He allegedly accepted over $10 million from 11 participants in his scheme.

Thursday, 07/07/2022 | 23:28 GMT by Felipe Erazo

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

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

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

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