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Investment scam
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Retail FX
ASIC against Scams: Number of Blocked Sites Dropped to 62 in July from 751 in January
2024-08-19T08:06:54.593+02:00
The regulator blocked over 7,300 phishing and investment scam websites.
It refers suspicious sites to a third-party company for blocking.
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Retail FX
Fraud Recovery Scams and ‘Pig Butchering’ Attract CFTC's Attention
2024-07-31T09:46:20.537+02:00
The agency pointed out that fraudsters even target victims multiple times.
It stressed that the government never emails, calls, or texts anyone demanding money.
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Retail FX
Barclays Reports 29% Increase in Investment Scams over Past Year
2024-04-17T13:16:13.179+02:00
On average, the typical consumer loses £14,000 to financial scammers.
Most fraudulent activities occur via social media, targeting millennials.
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Retail FX
Bait? ASIC Cautions against Increasing Fake Websites Displaying Warning Sign
2024-03-21T11:07:19.110+02:00
Fraudulent websites display messages asking people to report scams to police, ASIC, and Scamwatch.
Scammers are even running paid campaigns on popular websites.
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Retail FX
Telegram, WhatsApp Lead On the Number of Traders Who Lose Money to Scams: Survey
2024-03-14T13:31:55.811+02:00
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.
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Retail FX
Confidence to Avoid Scams Runs Low among Rookie Traders: Survey
2024-03-06T15:40:00.000+02:00
A joint survey by Finance Magnates and FXStreet found that 21.8 percent of traders with less than a year of experience are “not confident” to avoid online scams.
Traders with between 7 and 10 years of experience are most confident in avoiding scams.
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Retail FX
ASIC’s Anti-Scam Drive: Over 2,500 Investment Fraud, Phishing Websites Face Action
2023-11-02T10:10:32.780+02:00
The regulator implemented a new scam website takedown capability.
It has already taken down 2,100 websites.
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Retail FX
CySEC and FCA Are "Aware" of Rife Investor Fraud on Social Media. Stopping It Is Harder.
2023-08-09T14:03:22.218+02:00
The British watchdog takes action where it finds "credible evidence" of a breach of its rules.
CySec have not taken "direct action against Telegram", but have "other ways to protect investors".
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Retail FX
FCA Begins Proceedings against Individual over £1.3M Unauthorized Investment Scheme
2023-07-19T13:40:54.872+02:00
Daniel Pugh is facing charges of fraud and breaching the Financial Services and Markets Act.
He is accused of defrauding investors of approximately £1.3 million.
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Retail FX
French Regulators Blacklist 14 Illegal Forex Trading Platforms
2023-07-07T19:53:23.007+02:00
The AMF recently warned investors against illegal automated trading robots.
The UK's financial regulator flagged a clone of Interactive Brokers on Friday.
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Retail FX
Australia Launches Fusion Cell to Tackle $1b Investment Scams
2023-07-03T11:03:44.625+02:00
Australia's National Anti-Scam Centre is spearheading the country's first fusion cell.
The initiative aims to disrupt scam operations.
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Aussies Report a Record AU$1.5B Investment Scam Losses in 2022
2023-04-17T09:30:13.039+02:00
The actual losses remain much higher than the reported figures.
Losses per victim have jumped and averaged at AU$20,000.
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Retail FX
25% of Investors Who Avoid Scams Inspired by Sherlock Holmes
2023-02-21T14:33:37.594+02:00
"Armchair detective investors" successfully identify potential financial threats, FCA states.
The number of scam reports grew by 193% during the last five years.
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Retail FX
New Zealand’s FMA Reports 17% Increase in Investment Scams in 2022
2023-01-24T18:02:06.392+02:00
FMA disclosed the rising number in its 2022 Annual Report for the year ended June 2022.
The regulator recently accused Tiger Brokers' local subsidiary of AML/CTF violations.
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Retail FX
Consob Blocks 4 More Illegal Trading Platforms
2022-11-25T13:48:46.278+02:00
It is now blocking a total of 805 fraudulent trading platforms.
Internet providers block access to these platforms.
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Institutional FX
CySEC Warns against Impersonating Officers, Fake Websites
2022-11-22T21:48:37.007+02:00
The regulator detected five new rogue websites.
CySEC issued a similar warning in April.
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CryptoCurrency
Coinbase Raises Alarm on ‘Pig Butchering’ Crypto Investment Scams
2022-08-18T23:25:44.443+02:00
Scammers use dating apps to lure victims to perpetuate this type of scam.
Coinbase says it adds addresses associated with scams to its products’ blocklists.
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