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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
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
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
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
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
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