Australia financial regulator ASIC has issued its annual Targeting Scams report as part of Australia's Consumer Fraud Week 2016. The report shows that losses reported to the ASIC's Scamwatch website from investment scams doubled in 2015. ASIC data indicates that a wide variety of scams, including investment and 'get rich quick' scams, continue to hit Australians.…
Read moreNational Futures Association (NFA) today announced it has permanently barred Chicago, Ill., sole proprietor commodity trading advisor (CTA) Tina Mozhayski, DBA RF INTL, from membership and from acting as a principal of an NFA Member. The Decision, issued by an NFA Hearing Panel, is based on a Complaint authorized by NFA's Business Conduct Committee on March 18, 2015. The…
Read moreThe U.S. Commodity Futures Trading Commission (CFTC) today announced that a federal district court has unsealed a civil Complaint that the CFTC filed with the Northern District of Illinois on February 2, 2016, against two foreign web-based binary options firms, Vault Options, Ltd. (Vault) and Global Trader 365 (GT 365), both Israeli web-based companies. According to…
Read moreQuebec court has imposed a fine of CAD 1.54 million (USD 1.12 million) on Alain André Desarzens, an operator of a high-yield investment program. The legal decision comes after an investigation by the Quebec financial markets regulator AMF, which showed that Mr Desarzens was running numerous HYIP promotions online and via emails. He was promising…
Read moreThe order found that the accused operated as a Commodity Pool Operator (CPO) without registering as such, as required, and acted as an unregistered Associated Person of that CPO.
Read moreIt has been brought to the South African watchdog's attention that the entity uses a registered legal company's registration number and it promises clients a 25% daily return on their investments!
Read moreFortelus Capital Management CFO Thomas Meston was preparing to leave his office on a Friday afternoon when a fraudster called stating that he was from Coutts and requested the company's corporate bank account details. Subsequently, the fraudsters stole from the bank account, with Mr. Meston now the subject of a lawsuit
Read moreBritain's Financial Conduct Authority has issued a warning to potential investors about a French-language website which is operating without regulation whilst imitating a bona fide company
Read moreBritish regulatory authority warns that a bogus website is operating which unlawfully uses the same name as global investment giant BlackRock, as well as the firm's FCA registration number
Read moreRussians said goodbye to approximately RUB 2 billion (USD 38m) of their personal funds last year because of the activities of financial pyramids in the country. The gloomy estimate was unveiled by Sergey Shvetsov, first deputy governor of the Bank of Russia, in an interview with TV channel Russia-24. Mr Shvetsov, who is also known…
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