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Retail FX

ASIC against Scams: Number of Blocked Sites Dropped to 62 in July from 751 in January

  • The regulator blocked over 7,300 phishing and investment scam websites.
  • It refers suspicious sites to a third-party company for blocking.
Monday, 19/08/2024 | 06:06 GMT by Arnab Shome
Retail FX

Fraud Recovery Scams and ‘Pig Butchering’ Attract CFTC's Attention

  • The agency pointed out that fraudsters even target victims multiple times.
  • It stressed that the government never emails, calls, or texts anyone demanding money.
Wednesday, 31/07/2024 | 07:46 GMT by Arnab Shome
Retail FX

Barclays Reports 29% Increase in Investment Scams over Past Year

  • On average, the typical consumer loses £14,000 to financial scammers.
  • Most fraudulent activities occur via social media, targeting millennials.
Wednesday, 17/04/2024 | 11:16 GMT by Damian Chmiel
Retail FX

Bait? ASIC Cautions against Increasing Fake Websites Displaying Warning Sign

  • Fraudulent websites display messages asking people to report scams to police, ASIC, and Scamwatch.
  • Scammers are even running paid campaigns on popular websites.
Thursday, 21/03/2024 | 09:07 GMT by Arnab Shome
Retail FX

Telegram, WhatsApp Lead On the Number of Traders Who Lose Money to Scams: Survey

  • A joint survey by Finance Magnates and FXStreet found 60.09 percent of traders that fell victim to scams on Telegram lost funds.
  • The presence of active traders on Telegram makes it vulnerable to scams.
Thursday, 14/03/2024 | 11:31 GMT by Arnab Shome
Retail FX

Confidence to Avoid Scams Runs Low among Rookie Traders: Survey

  • A joint survey by Finance Magnates and FXStreet found that 21.8 percent of traders with less than a year of experience are “not confident” to avoid online scams.
  • Traders with between 7 and 10 years of experience are most confident in avoiding scams.
Wednesday, 06/03/2024 | 13:40 GMT by Arnab Shome
Retail FX

ASIC’s Anti-Scam Drive: Over 2,500 Investment Fraud, Phishing Websites Face Action

  • The regulator implemented a new scam website takedown capability.
  • It has already taken down 2,100 websites.
Thursday, 02/11/2023 | 08:10 GMT by Arnab Shome
Retail FX

CySEC and FCA Are "Aware" of Rife Investor Fraud on Social Media. Stopping It Is Harder.

  • The British watchdog takes action where it finds "credible evidence" of a breach of its rules.
  • CySec have not taken "direct action against Telegram", but have "other ways to protect investors".
Wednesday, 09/08/2023 | 12:03 GMT by Arnab Shome
Retail FX

FCA Begins Proceedings against Individual over £1.3M Unauthorized Investment Scheme

  • Daniel Pugh is facing charges of fraud and breaching the Financial Services and Markets Act.
  • He is accused of defrauding investors of approximately £1.3 million.
Wednesday, 19/07/2023 | 11:40 GMT by Damian Chmiel
Retail FX

French Regulators Blacklist 14 Illegal Forex Trading Platforms

  • The AMF recently warned investors against illegal automated trading robots.
  • The UK's financial regulator flagged a clone of Interactive Brokers on Friday.
Friday, 07/07/2023 | 17:53 GMT by Solomon Oladipupo
Retail FX

Australia Launches Fusion Cell to Tackle $1b Investment Scams

  • Australia's National Anti-Scam Centre is spearheading the country's first fusion cell.
  • The initiative aims to disrupt scam operations.
Monday, 03/07/2023 | 09:03 GMT by Damian Chmiel
Retail FX

Aussies Report a Record AU$1.5B Investment Scam Losses in 2022

  • The actual losses remain much higher than the reported figures.
  • Losses per victim have jumped and averaged at AU$20,000.
Monday, 17/04/2023 | 07:30 GMT by Arnab Shome
Retail FX

25% of Investors Who Avoid Scams Inspired by Sherlock Holmes

  • "Armchair detective investors" successfully identify potential financial threats, FCA states.
  • The number of scam reports grew by 193% during the last five years.
Tuesday, 21/02/2023 | 12:33 GMT by Damian Chmiel
Retail FX

New Zealand’s FMA Reports 17% Increase in Investment Scams in 2022

  • FMA disclosed the rising number in its 2022 Annual Report for the year ended June 2022.
  • The regulator recently accused Tiger Brokers' local subsidiary of AML/CTF violations.
Tuesday, 24/01/2023 | 16:02 GMT by Solomon Oladipupo
Retail FX

Consob Blocks 4 More Illegal Trading Platforms

  • It is now blocking a total of 805 fraudulent trading platforms.
  • Internet providers block access to these platforms.
Friday, 25/11/2022 | 11:48 GMT by Arnab Shome
Institutional FX

CySEC Warns against Impersonating Officers, Fake Websites

  • The regulator detected five new rogue websites.
  • CySEC issued a similar warning in April.
Tuesday, 22/11/2022 | 19:48 GMT by Solomon Oladipupo
CryptoCurrency

Coinbase Raises Alarm on ‘Pig Butchering’ Crypto Investment Scams

  • Scammers use dating apps to lure victims to perpetuate this type of scam.
  • Coinbase says it adds addresses associated with scams to its products’ blocklists.
Thursday, 18/08/2022 | 21:25 GMT by Solomon Oladipupo
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