The corporate regulator has restricted binary options supply to retail customers after discovering that 80% experienced cash loss according to researches done in 2017 and 2019. On 1 April, ASIC filed a product intervention to restrict the ‘provision and supply’ of binary options to retail customers after approximating the net losses in 2018 alone from…
BaFin, a financial regulator in Germany, aims for retail investors to know the dangers of crypto investments, particularly in the existing bull market. BaFin, the Federal Financial Supervisory Authority, has cautioned investors regarding the dangers associated with cryptocurrency investments. On Friday, in a consumer protection warning on its website, the regulator issued a warning narrative…
FSCA (The Financial Sector Authority) has sent a second ‘health’ caution to South Africans regarding the country’s cryptocurrency transactions. According to the authority, it is ‘disturbed to note’ the rising number of crypto-asset-connected losses that financial consumers experienced in the last three months. ‘The FSCA encourages the public to take extra care and be alert…
Google has notified the FCA that it has made advancements against fraudulent financial adverts held on its platform. A letter was published today addressed to Nikhil Rathi, FCA’s chief executive and Charles Randell the chairman and Ronan Harris, Google’s managing director in the UK and Ireland indicates numerous steps that Google implemented after joining forces…
The securities regulator in the Philippines has issued a public notice cautioning against ongoing cryptocurrency fraud. The fraud is called BitAccelerate, and it entices investors by guaranteeing returns of a maximum of 350%. The warning to the fraudsters also told them they are liable to fines exceeding $100,000 and a jail term of 21 years…
The law enforcement agencies in Spain and Europe have apprehended six suspects in the course of an investigation on a purported cryptocurrency investment fraud taking place out of Spain. Europol, an agency that operates throughout Europe has partnered with Catalan and Spanish police and incarcerated the suspects during an organized ambush on an Androrran investment…
Consumer Protection Agency Although online trading proves to be a reputable investment, unregulated companies are taking the fun side away from it. The last thing you may need is to invest and have no returns with the business dealings that you cannot even explain. Indeed, you will meet various online brokers with varying motives. Some…
Consumer Frauds Ensuring the safety of your information and money while trading online can be challenging. You will have to keep struggling to protect yourself against consumer frauds. Unfortunately, online scam brokers have perfected the game and they can get what they need from you in a matter of minutes. They will lure you with…
