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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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…

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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…

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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…

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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…

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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…

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