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Fraud
Europe's Economic Crossroads: Recession Fears and S&P Global's
Education Center
Will Blockchain Technology Mark a Turning Point in Fraud
Education Center
7 Things We Wish Someone Had Told Us Before We Started Trading
Education Center
5 Strategies That Drive Engagement for Financial Brands
Thought Leadership
Europe's Economic Crossroads: Recession Fears and S&P Global's
Education Center
Will Blockchain Technology Mark a Turning Point in Fraud
Education Center
7 Things We Wish Someone Had Told Us Before We Started Trading
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5 Strategies That Drive Engagement for Financial Brands
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FinTech
US Pays $115M to 40K Victims of Fraud Scheme Processed by MoneyGram
MoneyGram paid $125 million in 2018 for the refund.
The American money transfer company entered a DPA with the Justice Department in 2012.
Friday, 10/02/2023 | 22:42 GMT
by
Solomon Oladipupo
Payments
Do Cross-Border Payments Represent a Regulatory Blindspot?
A glance into a complex and dynamic process.
Tuesday, 07/02/2023 | 16:18 GMT
by
Finance Magnates Staff
CryptoCurrency
New York Charges Celsius Network's Co-Founder Alex Mashinksy with Fraud
The New York Attorney General said Mashinsky left many investors in "financial ruin."
Celsius Network filed for bankruptcy in July last year.
Friday, 06/01/2023 | 13:00 GMT
by
Solomon Oladipupo
News
US SEC Charges Individuals behind $45M Blockchain Fraud CoinDeal
The complaint named five individuals and three entities.
The fraudulent scheme defrauded "tens of thousands of investors."
Thursday, 05/01/2023 | 11:16 GMT
by
Arnab Shome
Retail FX
Aviv Talmor Gets 4 Years in Prison for $22 Million UTrade Fraud
The sentencing came after he was convicted last September.
The Judge pointed out that Talmor did not benefit personally from the fraudulent activities.
Thursday, 05/01/2023 | 06:05 GMT
by
Arnab Shome
FinTech
SEC Charges 8 Twitter Influencers with $100M Pump-and-Dump Fraud
The influencers allegedly used Twitter and Discord to manipulate exchange-traded stocks.
One of the influencers, Daniel Knight, was accused of aiding and abetting.
Wednesday, 14/12/2022 | 21:10 GMT
by
Solomon Oladipupo
Institutional FX
Danske Bank to Pay $2 Billion Fine for Defrauding US Banks
The Danish bank lied about its AML practices and the risk profile of its clients.
It moved $160 billion through US banks on behalf of its non-resident Estonian clients.
Wednesday, 14/12/2022 | 07:22 GMT
by
Arnab Shome
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Retail FX
CySEC Alerts against 5 Illegal FX/CFDs Trading Platforms
One of the platforms is even falsely claiming to have a CySEC license.
The regulator recently warned against fraudsters impersonating the regulatory website.
Thursday, 08/12/2022 | 08:47 GMT
by
Arnab Shome
News
Singapore Police Investigating Crypto Platform Hodlnaut for Fraud
The platform suspended all activities in August.
It reported massive exposure to FTX.
Friday, 25/11/2022 | 08:18 GMT
by
Arnab Shome
Institutional FX
CySEC Warns against Impersonating Officers, Fake Websites
The regulator detected five new rogue websites.
CySEC issued a similar warning in April.
Tuesday, 22/11/2022 | 19:48 GMT
by
Solomon Oladipupo
CryptoCurrency
Ohio Man Faces Criminal Charges for $10 Million Crypto Ponzi Scheme
He lured investors by flaunting a luxurious lifestyle.
He is facing 20 counts of wire fraud.
Monday, 21/11/2022 | 06:34 GMT
by
Arnab Shome
Retail FX
Consob Continues to Block Illegal Trading Platforms, Adds 4 More
The regulator is now blocking 796 illegal platforms.
These platforms offer high-risk investment instruments.
Thursday, 10/11/2022 | 12:00 GMT
by
Arnab Shome
Retail FX
FX Ponzi Scheme Defrauded $180m, Director Faces 10 Years in Jail
The scheme operated for almost seven years, starting in 2010.
The former director of a fraudulent company faces five criminal charges.
Tuesday, 08/11/2022 | 10:06 GMT
by
Damian Chmiel
Retail FX
CySEC Expands Warning List, Adds Five Unlicensed Trading Platforms
Some of them pretended to be licensed entities.
One broker turned out to be a clone of an authorized trading company.
Thursday, 03/11/2022 | 15:56 GMT
by
Damian Chmiel
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Retail FX
CTAX Pool and Introducing Broker to Pay over $2.3 Million for Fraud
CTAX operated between July 2014 and March 2019.
Reckless trading with the pool funds resulted in an 89 percent loss of pool assets.
Wednesday, 26/10/2022 | 06:49 GMT
by
Arnab Shome
Thought Leaders
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
FM
Regulation
Oracle to Pay $23M to Settle Bribery Charges against Asian Subsidiaries
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
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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
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