News 

Grenfell death toll may fall as ‘fraudsters have invented missing loved ones’

“The death toll from Grenfell Tower may fall because some of those missing have been invented by fraudsters, the police have revealed” writes Patrick Minford for telegraph.co.uk. There are eight people who have either been charged or are under investigation for fraud in relation to the inferno which ripped through the west London fire block. Commander Stuart Cundy said that 60 individuals have now been formally identified as losing their lives in the inferno on June 14 and whilst finger tip searches remain ongoing they expect the death toll to fall…

Read More
News 

Hurricane Irma delays progress of CFTC case against binary options fraudsters

“The storm has also had a negative effect on the progress of a case launched by the United States Commodity Futures Trading Commission (CFTC) against binary options fraudsters” reports financefeeds.com. According to the CFTC, the defendants have solicited more than $16 million due to illegal offering of binary options contracts.The binary options firms made promises of artificially high returns, bonuses and happy life.This prevents them from, inter alia, offering to enter into or otherwise conducting activities relating to binary options, acting as an affiliate marketer in any capacity that involves…

Read More
Crypto News 

Russian police take cryptocurrency fraudsters to court

“Fraudulent schemes involving crypto currencies are of particular concern for the expert who forecast that these will spread further in the future” reports financefeeds.com. The “Megaregulator” said it was premature to allow any crypto currencies along with any financial instruments linked to crypto currencies to the exchanges and regulated markets or the payment structures of the Russian Federation.The announcement, which reiterated a warning the central bank issued back in 2014, said that the risks associated with the use of crypto currencies are too high. Source: financefeeds.com Share This:

Read More
News 

University falls victim to email phishing scam, loses $9.5M to fraudsters

“Earlier this year, Google shut down a sophisticated phishing scam that targeted users by impersonating Google Docs” reports foxnews.com. University officials say that MacEwan’s IT systems were not compromised by the incident and that personal and financial information and all transactions made with the university are secure. Source: foxnews.com Share This:

Read More
Brokers News 

One year after binary options ban implementation, fraudsters keep targeting Belgians

“Apparently, however, this fraudulent approach continues to be widely adopted amid binary options firms” reports financefeeds.com. Binary options brokers like Stockpair, for instance, have continued to promote their offering via football partnerships on their French-language website.The latest additions to the Belgian black list of binary options firms that illegally target Belgian residents features nine websites.Some binary options brokers have chosen to switch to other fraud areas, like diamonds and rare earths scams.A year has passed since Belgium implemented drastic measures with regard to certain online trading instruments, including a ban…

Read More
Futures News 

Florida court issues order for preliminary injunction against binary options fraudsters

“Defendants Jason B. Scharf, A&J Media, Michael Shah, and Zilmil consented to the entry of the order for preliminary injunction, whereas defendants CIT Investments, Brevspand, and CIT Anguilla have failed to appear or show cause why a preliminary injunction should not be issued against them” reports financefeeds.com. The fraudulent practices of the above-mentioned binary options firms included promises of artificially high returns, bonuses and happy life.Zilmil, which directed customers to binary options websites, for instance, sent more than 60 million fraudulent emails to more than 1.4 million unique email addresses…

Read More
News 

From one ruse to another: Binary options fraudsters now pressure selling overseas business ‘loans’

“Binary options brand ownership” reports financefeeds.com. There is nothing financial about OTC binary options.It was inevitable that the owners of binary options brands whose flea market medallions are as visibly crass as their open shirts and loud voices would not simply lie down and disappear.Many binary options staff and sales people go between selling binary options and Green Card applications which promise the applicant a high chance of obtaining a Green Card, when the only possible way is via the US Department of State.As would be expected, the staff turnover…

Read More
News 

Financial Commission is Latest Target of Clone Fraudsters

“The commission said the pseudo-clone website impersonate the organization in many areas and context” reports financemagnates.com. In addition, the clone website lists a few names of FinaCom’s brokerage members, many of whom have contacted the agency to inquire about legitimacy or connection to the pseudo-clone entity.The Financial Commission (FinaCom PLC), an industry-specific dispute resolution service that caters to the financial services industry, today warned it believes that a company going by the name ‘Mira Capital Markets’ has been impersonating its membership through a cloned website that mimics some aspects of…

Read More
News 

While a ban is in the works, Manitobans continue to lose money to binary options fraudsters

“The regulator notes that in 2015, there were four complaints from Manitobans about unregistered binary options firms” reports financefeeds.com. The authors of the proposal note that non-fraudulent binary options pose significant risks to individuals too.MSC, along with other provincial regulators, is proposing a nationwide ban on all sorts of offering of binary options (advertising, selling, trading, etc) to Canadians.That announcement, however, was accompanied by some gloomy numbers about the continued rise in losses experienced by Canada’s investors due to the activities of unregulated binary options firms.The big news from Canada…

Read More
Crypto News 

Canadian Police Warns Public of Bitcoin Fraud Schemes

“Canadian police in the municipality of Durham have issued a notice late last week warning the public about new fraudulent schemes involving bitcoin” reports cryptocoinsnews.com. According to a notice posted last week, the Durham Regional Police have been receiving a growing number of reports by Durham residents about fraudulent schemes based on bitcoin.Inevitably, after victims buy bitcoins with their own money, the fraudulent cheque or e-transfer bounces.An excerpt from the public warning explains: The scam takes shape when victims deposit the cheque or e-transfer the amount into their accounts, prior…

Read More