Category: Charges

eToro's crypto trading platform & wallet now available in 32 US states
September 13, 2024 BY Sam Boughedda

eToro USA to Cease Trading in Nearly All Crypto Assets

The SEC alleged that eToro operated as an unregistered broker and clearing agency by facilitating the buying and selling of certain crypto assets that were deemed securities. In response, eToro has agreed to pay a $1.5 million penalty, while it has also agreed to "cease and desist from violating the applicable federal securities laws and…

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Cyprus flag
April 22, 2024 BY Elizabeth Anderson

CySEC Slaps CIF MCA Intelifunds With €360,000 Fine

According to a press release on Friday, 19 April 2024, the financial watchdog’s board claims that CIF transgressed numerous regulations in the Investment Services and Activities and Regulated Markets Law of 2017. The decision follows an investigation conducted in September 2022. A breakdown of this fine includes €80,000 for not having adequate policies and procedures…

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September 18, 2023 BY Elizabeth Anderson

Wells-Fargo executive escapes prison time

Tolstedt captained the retail and small business lending institution from 2007 to 2016 and became the only top Executive to face criminal charges. This occurred after the company’s forceful sales culture, which resulted in opening millions of accounts and selling products customers did not want, came to light.   Prosecutors in the case vied for a…

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Qantas Airline faces lawsuit over fraudulent flights
September 01, 2023 BY Elizabeth Anderson

Qantas Airline faces lawsuit over fraudulent flights

The crux is that these flight cancellations were typically due to circumstances that fell within the airline’s control, including re-routing, availability of landing and take-off runways in airports, and consumer demand.   In the court filing, the watchdog Australian Competition and Consumer Commission suggested that tickets remained available on various airline comparison sites and Qantas’ website…

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Visa under the DOJ microscope once again
August 17, 2023 BY Elizabeth Anderson

Visa under the DOJ microscope once again

A world leader in payments, the company now finds its policies regarding this tokenisation initiative under the DOJ microscope. Visa confirmed that the department’s antitrust arm requested information on US-based debit card practices in May 2023. When using tokenisation technology, those with sensitive card numbers can use a token to make payments. This token is…

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August 01, 2023 BY Alan Sayer

Richard Heart in hot water after SEC charges

On his website, Heart, also known as Richard Scheuler, proclaims himself as a kind of modern-age guru, with his products holding the answer to all political, economic, and social issues. He stated that: “I receive sincere thanks from multiple people every day for changing their life meaningfully. I’ve gotten thousands of people to stop gambling,…

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