News 

The Cyber Grinch Is Coming To Retailers

“What he finds alarming is the spike in eCommerce fraud among apparel retailers, where account takeover fraud is growing rapidly at the same time as stolen financials fraud” reports pymnts.com. Kothari said that retailers are experiencing greater fraud losses this year than last year, and that will only be highlighted during the holiday season.Simply refusing to do business with regions where fraud originates cuts into legitimate business.Fraudsters have been making their lists and checking them twice, and it’s not going to make for a very happy holiday for retailers. Source: pymnts.com…

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Crypto News 

Bitcoin is a vehicle for fraudsters, warns Goldman Sachs boss

“The boss of Goldman Sachs became the latest high-profile critic of bitcoin, claiming it was a vehicle to commit fraud as the value of the cryptocurrency plunged 20% in less than 24 hours” writes Angela Monaghan for theguardian.com. Blankfein said Goldman did not need to have a bitcoin strategy, adding the digital currency would need to be a lot less volatile and a lot more liquid to justify closer attention. “When do I have to have a bitcoin strategy?. Lloyd Blankfein, chief executive of the US investment bank, said: “Something…

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GBP News 

British Columbia has problems collecting fines from fraudsters, Finance Minister urges changes

“From fiscal 2007/08 to 2016/17, the British Columbia Securities Commission (BCSC) collected less than 2% of the $510 million in fines it had issued, according to the investigation” reports financefeeds.com. More than 80 fraudsters who have caused damage to thousands of investors (not only in British Columbia) have managed to escape paying the penalties issued by the Commission. Source: financefeeds.com Share This:

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Markets News 

British FX hedge fund managers favor ICOs because they remove binary options fraudsters from electronic trading

“ICOs are the absolute antitheses of anything that relates to genuine financial market investment, or established methods of private equity” reports financefeeds.com. This removes them entirely from any association with financial markets.Unlike the street culture and violent behavior of the binary options rabble, London’s astute, experienced and often highly educated hedge fund managers are of the absolute opinion that by natural progression, something else will rise up and they will seize that instead. The next step is to stop our own fraternity, be it media, marketing or branding, from placing…

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News 

Former Fresno IRS fraudsters sentenced to six months in jail

“A Fresno couple has pleaded guilty to defrauding the federal government of more than $130,000. published on November 14, 2017 – 11:41 AM Written by The Business Journal Staff Della Ornelas and Randal Ruff of Fresno were sentenced in federal court this week to six months in prison in a tax fraud scheme that cost the government more than $130,000” reports thebusinessjournal.com. Former IRS employees Ornelas and Ruff filed fraudulent tax returns for themselves and others, adding false dependents to generate large refunds. Source: thebusinessjournal.com Share This:

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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…

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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…

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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:

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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:

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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…

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