Michael Tecku, investor who lost a substantial amount of money in YieldStreet, said: The dream of YieldStreet was beautiful, but the reality is a nightmare. These investments were marketed as low risk asset-backed institutional investments run by experts with reasonable returns, but the truth is, there are no experts and there is no institution. It’s…
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The FBI said: Fraudsters are leveraging increased fear and uncertainty during the COVID-19 pandemic to steal your money and launder it through the complex cryptocurrency ecosystem. FBI agents believe the scammers will tailor their pitch to the current situation and be looking for donations for remote workers via email, safety equipment sellers, not going through…
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Cyber crooks are now building networks for other criminals to use for their illicit activities, but law enforcement officials finally got the upper hand on a global construct that had infected roughly 850,000 computers in over 100 countries with malware that acted as a “utility” for general use. French Police, with help from the U.S.…
Read moreThe incident, which involved unauthorized wire transfers from a number of customer accounts, is now subject to an investigation by FXCM and the FBI.
Read more"We have found individual cases, which are anything but reassuring. These are criminal acts could have been allowed to come about because checks have failed" - Raimund Roeseler, Chief Executive Director Banking Supervision, BaFin
Read moreWill the FX manipulation scandal result in serious jail time for some of the worst culprits?
Read moreThe USA once again demonstrates its commitment to customer protection as a Massachusetts court is set to hand down two potential 20 year sentences and a $500,000 fine to Marcellus Lopes Lee for 16 counts of wire fraud and utilizing client funds for his own purposes.
Read moreUS Marshal Office has developed a new service from which Bitcoins that were previously seized by the government can be cleaned and purchased directly from the law enforcement agency.
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