AUD News 

Australia registers 60% M/M jump in investment fraud losses in January 2018

“The losses mark a 32% rise from the losses of $23.63 million reported by Australians hit by investment fraud in 2016” reports financefeeds.com. There has been somewhat of a change in the profile of people actively reporting investment fraud.The amount reported lost as a result of investment fraud topped $4.63 million in January 2018, up 60% from the $2.9 million reported lost to such fraud in December 2017 and up massive 172% from the $1.7 million reported lost in January 2017.Australians reported losses of more than $31.15 million due to investment…

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Crypto News 

Credit Card Companies Spooked by Crypto Scams

“Banks and credit card issuers have acknowledged this which may be the reason behind their buying blockade” writes Southeast Asia Based for newsbtc.com. Officially JP Morgan’s stance is that people may not pay back their credit card debts if the crypto markets fall and they lose out.Another concern is that fraudsters can open a credit card account with a stolen identity.Most major exchanges eschew the tokens but some ICOs still allow credit card purchases.In a blog post the company said; “Banks and credit card issuers may now add cash advance…

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Crypto News 

Cryptocurrency scams on Twitter are so common, this guy built a tool to help detect fraudsters

“As members of the cryptocurrency community look to curb fraud and exploitation in the emerging community, Harry Denley has come up with a rather old-school solution: JavaScript” writes Finanzen Net Gmbh for businessinsider.com. As the face of Ethereum, one of the more successful blockchain and cryptocurrency projects, Buterin’s opinion holds a lot of weight among people in the space.This is to hedge against so-called phishing attacks, where false e-mails attempt to trick users into parting with their cryptocurrency. Source: businessinsider.com Share This:

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Crypto News 

Jokes and scams fuel a cryptocurrency gold rush

“Early last month, the San Francisco-based software developer Rishab Hegde launched a cryptocurrency he called ponzicoin” writes Olivia Solon for theguardian.com. Ponzicoin is the perfect emblem of the crypto gold rush.Facebook recently banned cryptocurrency advertising because so many were turning out to be scams.But none of that stopped people from investing to the point where Hegde closed the cryptocurrency down, saying the joke had “gotten crazy out of hand”. Source: theguardian.com Share This:

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News 

FCA Alerts Investors of Increased Risk of Online Binary Options Scams

“Meanwhile, the Israel Securities Authority has issued a complete ban of binary options, and has outlawed any related activities, even for markets outside the country that currently permit binary options trading” reports financemagnates.com. The binary options industry has received a great deal of scrutiny over the past few years.The Financial Conduct Authority (FCA) has issued a warning to investors to be cautious when tempted to invest in online investment opportunities.Binary options have been at the forefront of global regulators’ agendas due to the high level of complaints issued on behalf…

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Crypto News 

SEC devoting ‘significant’ portion of resources for catching cryptocurrency scams

“Initial coin offerings, or ICOs, are fundraisers for projects based on the same blockchain technology as digital currency bitcoin” writes unknown author for cnbc.com. The U.S. Securities and Exchange Commission wants to bring sales of new digital tokens, or initial coin offerings, under its authority.In July, the commission used a case study to indicate that securities law may apply to digital coin offerings and issued an investor warning.The SEC has become tougher on initial coin offerings.The commission has also temporarily suspended trading in some tiny stocks due to questions about…

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News 

Guy arrested for ‘Nigerian prince’ email scams is definitely not Nigerian royalty

“Police arrested a 67-year-old man in Slidell, Louisiana after an 18-month investigation in connection with Nigerian prince email scams” writes Kellen Beck for mashable.com. The man is suspected of being a middle-man for a group in Nigeria that used the Nigerian prince email scam to get money from unsuspecting people, the Slidell Police Department announced on Facebook.The “Nigerian prince” email scam is one of the most notorious cybercimes out there, and the people behind it may have hit a bit of a snag after one of their alleged co-conspirators was…

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Crypto News 

Trade Group Warns Investors of Bitcoin Pump & Dump Scams

“Beware of Bitcoin stock scams; the Financial Industry Regulatory Authority warned investors on Thursday” writes Bradley Keoun for thestreet.com. The industry group specifically warned about “pump and dump” scams where promoters manipulate the shares higher by touting them to investors, then selling them before the correct value is revealed.It cautioned investors on Thursday about promised high returns from Bitcoin and other digital currency-related securities.The U.S. regulator alleged doubts about the accuracy and adequacy of the Malibu-based company’s supporting disclosures to investors. Source: thestreet.com Share This:

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