Crypto News Platforms 

FSMA Flags 14 Crypto Trading Platforms, as Crypto Scams Grow

“You can see the list of the 14 suspected scams and their websites here” writes Celeste Skinner for financemagnates.com. However, some of the trading platforms don’t just offer cryptocurrencies, they also offer more traditional financial instruments to trade such as foreign exchange, indexes and commodities.With the additions, the list of suspected cryptocurrency scams now includes a total of 113 websites.In addition, the FSMA also highlights that despite previous warnings, the regulator is still receiving new complaints from consumers who have invested in virtual currencies through these trading platforms.The Financial Services and…

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AUD News 

ASIC Warns Against Scammers Impersonating the Regulator

“Furthermore, they are not regulated nor licensed by ASIC and therefore, are not authorised to provide financial services within Australia” writes Celeste Skinner for financemagnates.com. Commenting on the scam, ASIC Commissioner Sean Hughes said: “These are sophisticated scams convincing people to part with their money and provide personal information.According to the statement published today, both of these firms are scams. Furthermore, ASIC also advisers residents of Australia to check the regulator’s website to see whether a financial institution holds an Australian Financial Services licence before giving any personal details, such…

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Crypto News Platforms Regulators 

New Zealand: Financial Authority Blacklists Another Three Crypto Platforms Marked as ‘Suspected Scams’

“Another crypto company, Bitcoin Revolution Limited, was suspected of being involved in a scam as well” writes Ana Berman for cointelegraph.com. New Zealand’s authorities are already closely following other crypto scams.New Zealand’s Financial Markets Authority (FMA) has added three more crypto platforms to its blacklist that warns about scams, a release by the FMA reveals Wednesday, Dec. 12.In September, the country’s police warned citizens about online scams in general as an investor lost $320,000 NZD ($213,000 USD) to crypto fraudsters. Source: cointelegraph.com Share This:

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Crypto News 

2018’s worst cryptocurrency scams, cyberattacks

“In the same month, a software developer revealed the CoffeeMiner attack, a means to use public Wi-Fi networks to perform cryptojacking — the covert mining of cryptocurrency without user consent” reports zdnet.com. Facebook decided to ban the advertising of ICOs, cryptocurrencies, and binary options on the social network due to the prevalent risk of scams and fraudulent schemes. One of Japan’s largest cryptocurrency exchanges, Coincheck, was hacked, while both BitConnect and Benebit pulled an exit scam. Source: zdnet.com Share This:

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News 

Amazon fires employees over data leak as it fights seller scams: report

“The dismissals came after Amazon began investigating suspected data leaks and bribes of its employees, which the Journal reported in September” reports thehill.com. Amazon has fired several employees suspected of providing independent merchants with inside information as the company tries to crack down on seller scams, The Wall Street Journal reports.Amazon let go of several workers in the U.S. and India who allegedly inappropriately accessed company data that disreputable merchants had misused, people familiar with the company’s effort told the Journal. Source: thehill.com Share This:

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Crypto News 

Cryptocurrency Scams in Singapore Net $78,000 in Just 3 Months

“Cryptocurrency scams can be pretty lucrative as a string of them in Singapore has netted $78,000 in just three months” writes Jeffrey Francis for livebitcoinnews.com. A number of cryptocurrency scams in Singapore have managed to con over $78,000 from their victims between September and November.The victims of these cryptocurrency scams have contacted the police, but there’s actually little law enforcement can do.The perpetrators of these scams are based outside of Singapore, so they’re not regulated by the Monetary Authority of Singapore (MAS).Have you ever fallen victim to a cryptocurrency scam?.…

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Crypto News 

Researchers Find Hundreds of Pump and Dump Scams, Develop Algorithm

“An analysis performed by researchers at Imperial College London has found that around $7 million worth of cryptocurrency trading volumes are the result of pump and dump schemes” writes Simon Golstein for financemagnates.com. Pump and dump schemes are a traditional type of scam.It would be unfair to call the name ‘McAfee’ synonymous with pump and dump schemes, but the eccentric computer programmer-turned-cryptocurrency evangelist has been implicated in a few.In the worlds of electronic trading and cryptocurrency, the difference between a profit and a loss can be a matter of milliseconds. Source:…

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Brokers News 

BaFin Releases 3 Page Guide Against Online Trading Scams

“By way of introducing the topic, BaFin noted that most fraudsters deal in three products; binary options, cryptocurrencies or contracts-for-difference (CFDs)” writes David Kimberley for financemagnates.com. Appropriately titled “Warning About Rip-Off Investments on the Internet,” the German regulator issued a three-page document that is effectively a guide on how to avoid getting scammed by brokers.It’s Tuesday and that means another regulator has issued a warning against trading with retail brokers of some description.The regulator noted that scammers will sell data to one another and even target the same people again,…

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News 

Walmart, Target, Best Buy take steps to curb gift card fraud

“Underwood and Shapiro said retail gift cards cannot be used for such expenses, and that the IRS does not cold-call people” reports businessinsider.com. Walmart, Target and Best Buy also bolstered training to help employees spot scams and warn potential victims.Last month, the Federal Trade Commission said 26 percent of victims reporting scams between January and September said they paid with gift cards, up from just 7 percent in 2015. Source: businessinsider.com Share This:

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