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Retail FX

ASIC’s Anti-Scam Drive: Over 2,500 Investment Fraud, Phishing Websites Face Action

  • The regulator implemented a new scam website takedown capability.
  • It has already taken down 2,100 websites.
by Arnab Shome
Retail FX

CySEC and FCA Are "Aware" of Rife Investor Fraud on Social Media. Stopping It Is Harder.

  • 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".
by Arnab Shome
Retail FX

FCA Begins Proceedings against Individual over £1.3M Unauthorized Investment Scheme

  • 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.
by Damian Chmiel
Retail FX

French Regulators Blacklist 14 Illegal Forex Trading Platforms

  • The AMF recently warned investors against illegal automated trading robots.
  • The UK's financial regulator flagged a clone of Interactive Brokers on Friday.
by Solomon Oladipupo
Retail FX

Australia Launches Fusion Cell to Tackle $1b Investment Scams

  • Australia's National Anti-Scam Centre is spearheading the country's first fusion cell.
  • The initiative aims to disrupt scam operations.
by Damian Chmiel
Retail FX

Aussies Report a Record AU$1.5B Investment Scam Losses in 2022

  • The actual losses remain much higher than the reported figures.
  • Losses per victim have jumped and averaged at AU$20,000.
by Arnab Shome
Retail FX

25% of Investors Who Avoid Scams Inspired by Sherlock Holmes

  • "Armchair detective investors" successfully identify potential financial threats, FCA states.
  • The number of scam reports grew by 193% during the last five years.
by Damian Chmiel
Retail FX

New Zealand’s FMA Reports 17% Increase in Investment Scams in 2022

  • 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.
by Solomon Oladipupo
Retail FX

Consob Blocks 4 More Illegal Trading Platforms

  • It is now blocking a total of 805 fraudulent trading platforms.
  • Internet providers block access to these platforms.
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.
by Solomon Oladipupo
CryptoCurrency

Coinbase Raises Alarm on ‘Pig Butchering’ Crypto Investment Scams

  • 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.
by Solomon Oladipupo
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