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Retail FX

Australian Regulator Clamp Down on Super Fund Scam and Unlicensed Crypto Services

  • The watchdog charges individuals in SMSF scams and unlicensed crypto service cases.
  • The schemes promised high returns for retail investors.
Tuesday, 06/02/2024 | 08:49 GMT by Damian Chmiel
Retail FX

Social Media Scams: Help Shape the Fight with Your 2024 Survey Participation

  • Scammers have been cloning brokers and regulators alike on social media for years.
  • Participate in the cross-platform poll here to help the industry fight back.
Friday, 26/01/2024 | 06:00 GMT by Yam Yehoshua
Institutional FX

FSMA: Scammers Pose as Major Banks to Defraud Unsuspecting Consumers

  • Victims are lured with promises of high returns but end up losing their money.
  • The FSMA has issued warnings about fraudsters who use fake bank identities.
Monday, 09/10/2023 | 19:23 GMT by Jared Kirui
CryptoCurrency

Study Finds Blackmail Leads in $20 Billion Bitcoin Scams

  • Blackmail has led the list of the most prevalent types of Bitcoin scams since 2018.
  • The number of reported scammers has almost halved, but ransomware scams are on the rise in 2023.
Wednesday, 04/10/2023 | 08:44 GMT by Damian Chmiel
CryptoCurrency

MetaMask Users Beware: Government Websites Turn into Crypto Traps

  • MetaMask users are being targeted by scams that exploit government websites.
  • Fraudsters redirect them to fake MetaMask pages, putting their crypto assets at risk.
Tuesday, 05/09/2023 | 10:59 GMT by Damian Chmiel
Retail FX

ASIC Eyes AI: New Plan to Shield Australians from Financial Scams

  • The regulator is ramping up enforcement actions to shield Australian consumers.
  • It aligns with the organization's latest Corporate Plan.
Monday, 28/08/2023 | 07:09 GMT by Damian Chmiel
Retail FX

Boiler Room Defrauds Investors of $35 Million, SEC Intervenes

  • The SEC has obtained a provisional injunction against Legend Venture Partners LLC.
  • According to allegations, the company conducted a pre-IPO stock fraud scheme.
Wednesday, 28/06/2023 | 08:20 GMT by Damian Chmiel
Retail FX

CySEC Warns against Impersonators of Officials, Representatives

  • It was the third warning from CySEC against impersonators.
  • These scammers contact clients of regulated entities and sanctioned firms.
Friday, 19/05/2023 | 06:55 GMT 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.
Tuesday, 21/02/2023 | 12:33 GMT by Damian Chmiel
CryptoCurrency

Cryptocurrency Fraud in UK Rises by 32% to $270m

  • With high inflation and a deepening recession, customers are more vulnerable to scams.
  • The local police seized hundreds of millions of pounds in cryptocurrencies.
Monday, 28/11/2022 | 11:08 GMT by Damian Chmiel
CryptoCurrency

FCA Takes Action as UK Crypto Scams Soar

  • Cryptocurrencies are the most commonly reported potential scams to the FCA.
  • The commission opened more than 2,700 cases involving investment scams in one year.
Friday, 21/10/2022 | 17:01 GMT by Damian Chmiel
News

DOJ Sentences US-Based Man to 42 Months in Prison for Crypto Scam

  • Washington-based Asa Saint Clair was sentenced yesterday.
  • He tricked at least 60 investors through a fraudulent crypto scheme.
Friday, 16/09/2022 | 07:32 GMT by Bilal Jafar
Retail FX

Australians Lost over AU$2 Billion to Scams in 2021

  • Losses to investment scams were highest at AU$701 million.
  • Scammers are targeting vulnerable communities and age groups.
Monday, 04/07/2022 | 06:33 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

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

Australians Lost AU$158 Million to Investment Scams in H1 2022

  • Cryptocurrency scams are most common in the country.
  • The regulator in the country also sued Meta for allowing crypto scam ads.
Monday, 06/06/2022 | 07:56 GMT by Arnab Shome
Retail FX

FCA Raises Alarm on Screen-Sharing Scam as Victims Lost £25 Million

  • A 59-year-old woman lost £48,000 to these scammers.
  • Scammers are targeting people between 18 and 70 years of age.
Thursday, 05/05/2022 | 08:56 GMT by Arnab Shome
CryptoCurrency

Turkey Seeks Jail Sentences of over 40,000 Years for Thodex Founders

  • A total of $24 million was lost due to the collapse of the crypto exchange.
  • The defendants are accused of establishing a criminal organization.
Friday, 01/04/2022 | 21:13 GMT by Felipe Erazo
Retail FX

ASIC Warns against Scammers Impersonating Financial Firms

  • Scammers are reaching out to potential victims through emails, calls and messages.
  • They provide convincing documents to gain the trust of the potential victims.
Thursday, 24/03/2022 | 06:53 GMT by Arnab Shome
News

FCA Opens over 300 Cases against Unregistered Crypto Firms

  • Scams are rampant using cryptocurrencies, boiler rooms and recovery rooms.
  • It has started two campaigns to aware investors of scams.
Thursday, 03/03/2022 | 13:12 GMT by Arnab Shome
CryptoCurrency

‘Peaceful World’ Token Is a Scam, Ukraine Cancels the Planned Airdrop

  • The scammers capitalized over the upcoming Ukraine airdrop to dupe investors.
  • Ukraine official confirms the country will use NFTs instead of tokens.
Thursday, 03/03/2022 | 13:09 GMT by Matti Williamson
CryptoCurrency

‘Ether Trade Asia’ Director, Nishid Wasnik Arrested over Crypto Scam

  • Security experts were able to track Nishid Wasnik that hid in Lonavala with his wife.
  • Wasnik is accused of defrauding investors for several years.
Sunday, 20/02/2022 | 13:46 GMT by Matti Williamson
News

SEC Obtains Judgment against Lead US BitConnect Promoter

  • Glenn Arcaro and his company have to pay disgorgement and civil penalties.
Friday, 10/12/2021 | 07:37 GMT by Arnab Shome
Retail FX

UK’s Financial Ombudsman Sees a Surge in Fraud Complaints during Q2

  • Complaints related to fraud and scams jumped by 30% YoY.
Thursday, 25/11/2021 | 13:33 GMT by Bilal Jafar
Retail FX

Consob Blacks Out 6 Unlawful Financial Websites

  • The authority has tightened its grip on illegal financial websites in the region.
Friday, 12/11/2021 | 14:42 GMT by Bilal Jafar
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