NEWS

Mulit-Level Network Marketing Cryptocurrency Fraud in Uganda is Running Rampant.

- Reclaws International (reclaws.com)
Oct 07

Uganda Cryptocurrency Fraud.


In a recent report published by the Crime Intelligence and  Investigations  Directors of the Cyber Crime Unit, several MP has asked the government to combat “various scams of companies and individuals who fleece Ugandans of their money.”

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The companies in question are Fix Club Limited and ABS International PTY Limited.

- Reclaws International (reclaws.com)
Oct 07

New Zealand’s FMA Updates Blacklist, Adds Two Suspected Scams.


New Zealand’s Financial Markets Authority (FMA) on Tuesday updated its blacklist, adding two new warnings against potential scams. The companies in question are Fix Club Limited and ABS International PTY Limited.

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The Texas State Securities Board has issued an emergency action to halt the deceitful offerings of investments in three cryptocurrency related schemes.

- Reclaws International (reclaws.com)
Sep 20

Texas Regulators Shut Down Three Cryptocurrency Scams.


The organization is also accused of fabricating photographs to show its “state-of-the-art office,” as well as using stock photos to portray its employees. A video featuring stock footage of its servers, facilities, and financial professionals was also cited.

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Judge rules that initial coin offerings are "securities" and SEC can go after ICO scammers for securities fraud under US securities laws.

- Reclaws International (reclaws.com)
Sep 14

Judge rules cryptocurrency ICO scam case falls under securities law.


The decision, the first of its kind, grants the SEC the go-ahead to pursue criminal cases against ICO organizers under current US securities laws.

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There were 290 reports of investment fraud in August 2018, with a total of $2,964,717 reported as lost due to such scams last month.

- Reclaws International (reclaws.com)
Sep 09

Australians report $2.96m in losses due to investment fraud in August 2018


So far this year, July holds the record for financial losses due to such fraudulent schemes – with more than $6 million lost that month.

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Another day, another scam!

- Reclaws International (reclaws.com)
Sep 07

Cryptocurrency scammers are luring victims with Tesla Model 3 giveaways.


The good thing is it appears nobody has fallen for the promise of a shiny new Tesla yet. Hard Fork reviewed the Bitcoin and Ethereum wallet addresses promoted in the fraudulent post: neither of them has received any funds so far.

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EU extends ban on selling binary options to retail clients.

- Reclaws International (Reclaws.com)
Aug 27

European Securities and Markets Authority will renew crackdown for further three months.


The regulatory crackdown is expected to hurt the profitability of large listed online trading platforms such as IG Group and CMC Markets, but also the wealth of smaller private operators that have sprung up across Europe. 

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Retail investors told to be on guard against buzzwords and dubious marketing claims.

- Reclaws International (reclaws.com)
Aug 25

China warns public over ‘Blockchain’ Ponzi schemes.


Chinese investors were also able to access foreign-based platforms, sometimes using a virtual private network to evade China’s internet controls. 

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Scammers advertise on social media platforms, promise unrealistically high returns and sometimes use fake endorsements from famous people, the FCA cautions.

- Reclaws International (reclaws.com)
Aug 23

UK regulator updates Crypto scam warnings.


The firms operating such scams are usually based outside the UK, but some claim to have an office with a City of London address.

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The fake regulator, the Securities Authority of New Zealand, is endorsing suspected scams such as Haig, Lafferty & Partners.

- Reclaws International (reclaws.com)
Aug 23

FM HomeRetail FXRegulationNew Zealand’s FMA Flags Fake Regulator and Two Potential Scams.


The Securities Authority of New Zealand has come into the watchdog’s radar for claiming to be a legitimate financial services regulator in the country when, in fact, it is not. The fake watchdog has been endorsing products and services from suspected scams, such as Haig, Lafferty & Partners.

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British's Financial Conduct Authority Warns citizens against Cryptocurrency cams.

- Reclaws International (reclaws.com)
Aug 21

Cryptocurrency Scams on the Rise in the UK – Britain’s Financial Conduct Authority.


Reuters published a warning from Britain’s Financial Conduct Authority for investors on August 17th, informing them of an increase of cryptocurrency related scams which are leveraging celebrities and uptown London addresses to convince potential investors into buying into their scam.

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Almost $100 million in cryptocurrency has been stolen by exit scammers, as ICO tokens continue to plummet in value.

- Reclaws International (reclaws.com)
Aug 15

Cryptocurrency exit scams have conned people out of almost $100M.


xit scams continue to plague the ICO space as there is little by means of regulation to ensure the legitimacy of projects being listed, after all, there are no legal obligations in this arena to deliver a product once you have raised secured funding. It’s pretty much a digital wild west as far as the law is concerned.

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The Swiss parliament is highly resourceful in its guidelines and regulatory rules ensuring all investors are protected from broker scams and financial frauds through the highest regulatory intervention.
Aug 12

The Best and Trusted Forex Brokers in Switzerland.


The Forex broker should also have several channels of communication, including live chats, instant email, online contact forms and phone numbers.

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Researchers have uncovered a huge botnet that mimics legitimate accounts on Twitter to spread a cryptocurrency "giveaway" scam.

- Reclaws International (reclaws.com)
Aug 10

Researchers Discover Huge Crypto Scam Botnet on Twitter.


To spread the fake giveaway scam, the bots would reply to tweets posted by the legitimate account, containing a link to entice Twitter users to the scam.

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Australians report more than $6m in losses due to investment scams in July 2018.

- Reclaws International (reclaws.com)
Aug 10

This makes July the month with the biggest losses due to investment fraud in Australia so far.


The number of reports about investment fraud was 263 last month, with the most active part of the population submitting such reports being those aged from 35 to 44. They were also the people who suffered the biggest losses.

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These are the Common Cryptocurrency Scams and How to Avoid Them.
Aug 07

In May, the Securities and Exchange created the HoweyCoin, a mock cryptocurrency to educate and warn


In May, the Securities and Exchange created the HoweyCoin, a mock cryptocurrency to educate and warn investors against rogue ICO’s.

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The owner of a Hong Kong e-sports and cryptocurrency mining company has vanished after the company allegedly defrauded Macau investors out of HK$20 million (US$2.5 million), according to a report by the Macau News Agency.

- Reclaws Internatinal (reclaws.com)
Aug 04

Cryptocurrency Scam Hits Macau Residents


Forger Esports is said to have signed around 142 contracts amounting to a total of more than HK$50 million (US$6.370 million) in principals and returns.

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The state of Missouri’s securities watchdog issued cease and desist orders last week to three unlicensed firms that allegedly sold unregistered binary options to Missouri investors.

- Reclaws International (reclaws.com)
Aug 04

Secretary of State warns of binary options firms defrauding Missourians.


The state of Missouri’s securities watchdog issued cease and desist orders last week to three unlicensed firms that allegedly sold unregistered binary options to Missouri investors.

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India, Cryptocurrency, arrest & ripple.

- Reclaws International (reclaws.com)
Aug 02

Indian police bust $4M ‘Ripple Future’ cryptocurrency scam.


In the latest crypto-bust, Indian police arrested two suspects for allegedly duping 300 million Indian Rupees ($4 million approximately) from 1,800 people, Press Trust of India (PTI) reports.

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The cryptocurrency market experienced different hacks and scams that affected the whole system.

- Reclaws International (reclaws.com)
Aug 02

Most Common Cryptocurrency Scam Methods All Investors & Traders Should Know.


The cryptocurrency market could be a much safer place if we all understand that scammers are all there trying to steal our funds. Dealing with finances it is a risky activity and users should be cautious every single time they deal with these matters.

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Thousands joined the investment scheme in one of Asia's biggest nations of cryptocurrency fans.

- Reclaws International (Reclaws.com)
Aug 01

New cryptocurrency scam hits Vietnam as miner leaves for US


FPT, Vietnam's biggest IT company, also considered a pilot program to let students at its education arm pay their tuition in bitcoin.

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Robots often use highly valued keywords such as Bitcoin Trader, Bitcoin Code or Crypto Robot and promise the investor easy money.

- Reclaws International (Reclaws.com)
Aug 01

Bucket Shop CFD Brokers Are Using Cryptocurrency Robots as Bait to Lure Clients.


Inexperienced Investors Are Victims, White Label Robots, Related to Binary Options and Are There Any Real Cryptocurrency Robots?

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Binary Options Firm Blamed Hackers For Lost Cash

-Reclaws International (reclaws.com)
Jul 31

Binary Options Firm Blamed Hackers For Lost Cash


A dodgy financial company that claimed to trade in binary options blamed hackers when  money  disappeared from customer accounts.

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A Colorado businessman and his UK-registered company defrauded at least 600 customers of more than $1.1 million.

- Reclaws International  (Reclaws.com)
Jul 31

Operator of Bitcoin, Binary Options Scam Slammed with $1.9 Million Penalty.


The CFTC has accused a Colorado businessman and his UK-registered company of violating trading regulations and defrauding at least 600 customers of more than $1.1 million.

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Scammers pwn verified Fox Twitter account to scam cryptocurrency

-Reclaws International (Reclaws.com)
Jul 25

Scammers have long been exploiting Twitter to steal digital currencies


Scammers have long been exploiting Twitter to steal digital currencies from naïve users, but this month one attacker pulled off a rare coup by compromising a verified Twitter account.

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The FCA reminds traders to beforehand check its official Register before making any investments.‎

-Reclaws International
Jun 20

Reclaws. International : FCA Turns Eye to Cryptocurrency Brokers, Warns Against Cryptorobot365


The UK financial watchdog today updated its warning list by ‎blacklisting another unregulated firm called Cryptorobot365, which facilitates trading in digital currencies without being authorized to provide ‎‎investment services or activities in the country.‎ ‎

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Blake Kantor, who operated fraudulent binary options and cryptocurrency schemes, complains he cannot access and use money at his discretion due to the CFTC action against him.
-Reclaws International (www.reclaws.com)
May 01

Reclaws International: Binary options fraudster cannot get used to “new normal” after CFTC action


There has been somewhat of a trend lately of fraudsters resorting to emotional pleas in some desperate effort to secure the Court’s  lenience . One may quite often observe how the defendants in fraud cases launched by the United States Commodity Futures Trading Commission (CFTC) represent themselves without a counsel (pro se) and their letters to the Court are full of complaining about lack of funds and their miserable state of being. FinanceFeeds’ readers may recall the super-passionate letters from Brett Hartshorn, accused of Forex fraud, to the New York Southern District Court.

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Exclusive: Mastercard Singles Out Unregulated Forex, CFDs, Binary Brokers and ICOs

-Reclaws International (Reclaws.com)
May 01

Reclaws.com: Unregulated brokers are about to get a much tougher time to attract new clients


Finance Magnates can confirm that the big changes which the forex and CFDs brokerage industry has been experiencing over the past couple of months are just starting. In what seems like a well-coordinated effort, the latest loophole for unregulated forex and CFDs brokers has been closed by Mastercard. The company has sent out an email to payment processors informing them about big upcoming changes.

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Top British financial advice expert is suing under-fire social media giant for ads that used his image to steer trusting respondents into the hands of scammers.

-Reclaws International (Reclaws.com)
May 01

Reclaws International: Facebook’s nightmare UK lawsuit revolves around Israeli binary options ads


A prominent British financial and consumer advice journalist launched a lawsuit against Facebook this week for running binary options ads featuring his image that have left trusting consumers fleeced of their money.

Three months after Facebook announced it was banning ads for binary options, cryptocurrencies, and ICOs (initial coin offerings)

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How Australia Is Becoming A Cryptocurrency Continent: Markets, Regulations And Plans

-Reclaws International (Reclaws.com)
Apr 19

Reclaws.com: How Australia Is Becoming A Cryptocurrency Continent: Markets, Regulations And Plans


The very nature of cryptocurrencies dictate that regulation, control, and by extension, a centralized system, do not fit in with what they stand for. They are supposed to be totally decentralized, and therefore not dictated by many rules.

This made a lot of sense when cryptocurrencies were not in the spotlight, and not a major factor on the world stage. However, as mainstream adoption has increased, and more individuals have entered the market, so has the interest from governments and regulators around the world.

This has culminated with the G20 summit sitting down and discussing how to fit this decentralized financial system into today’s global society. However, one nation is forging its own path, not hanging around with a ‘wait-and-see’ attitude.

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6 Cryptocurrency Scams you must be aware of

-Reclaws International (Reclaws.com)
Apr 16

Reclaws International: Cryptocurrency scams


It's hardly a shock that the arrival of a brand-new asset class that's quickly produced a ton of wealth and spawned claims about massive technological, financial and social disruption has also produced quite a lot of questionable investments and shady behavior.

No wonder, then, that Facebook has banned cryptocurrency-related ads on its platform, and that Alphabet/Google  plans to do the same (Twitter reportedly isn't far behind). Or that the SEC recently said it has "dozens" of investigations underway related to cryptocurrencies and initial coin offerings (ICOs).

Jim Cramer and the AAP team hold positions in Facebook and Alphabet for their action alerts Plus charitable trust portfolio. Want to be alerted before Cramer buys or sells FB or GOOGL? 

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What lead to such an extreme decision and how should the crypto companies handle their marketing efforts now?

-Reclaws International (Reclaws.com)
Apr 09

Reclaws.com: Life after Google Ban: Experts Weigh in on the Future of Crypto


When it comes to the technology giants’ attitude towards the cryptocurrency industry, it seems that all hell broke loose. The leading social networks, such as FacebookTwitter, and Snapchat have all banned crypto and ICO ads, thus blocking the industry from accessing circa three billion people. Last week, Mailchimp, the global email marketing giant, has also voiced its intention to prevent its users from sending emails promoting crypto services and ICOs.

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Apr 02

Reclaws.com: France’s AMF sends information about binary options scam to public prosecutor’s office


A fraudster, presenting himself as Mr Villard, has been contacting French savers and claims to be mandated by the AMF to help them recover sums they invested on a binary options platform.

FinanceFeeds has repeatedly warned its readers against falling for binary options recovery scams, as regulators in many jurisdictions are becoming increasingly aware of this type of fraudulent activities. The latest regulator to act in this respect is France’s financial markets authority AMF.

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Binary options is a highly speculative form of trading, which experts and regulators have likened to gambling.

-Reclaws International (Reclaws.com)
Apr 01

Reclaws International: Australian couple linked to Binary Option trading scam


Binary options is a highly speculative form of trading, which experts and regulators have likened to gambling. And many unlicensed operations are just out-and-out scams. One website, Binary Tilt, has been subject of warnings from regulators in South Africa, Canada, the United Kingdom and Japan. In September last year, the Australian Securities and Investments Commission (ASIC) warned Binary Tilt, "could be involved in a scam" and advised potential clients not to deal with the company. Western Australian project manager David Steele said he first started trading with Binary Tilt in 2016. He was initially wary of the business and insisted on meeting the brokers face to face in Singapore.

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Millennials’ comfort with technology may actually make them more vulnerable to scammers.

-Reclaws International (Reclaws.com)
Mar 22

Reclaws International: Millennials Are Most Vulnerable to Scams


When many of us hear that someone has fallen victim to a financial scam, we conjure up an image of a doddering oldster gleefully sending their life’s savings to help a Nigerian prince.

As auto-dialing, internet calling services and other technological advancements become more accessible, consumers have seen scam calls skyrocket in the past few years, and tax season is, predictably, the busiest time of year for scammers. Time to warn Grandpa, right? Not so fast.

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Warning signs of a ponzi scheme
Where do ponzi schemes operate?
How long can the scheme last?
How ponzi schemes work?
What to do if you have invested in a ponzi scheme?

-Reclaws International (Reclaws.com)
Mar 14

Reclaws International: Warning signs of a ponzi scheme


Dividends but no real investment

One of the simplest yet most effective investment scams is the ponzi scheme. The promoter promises investors a return on investment and says it is secure, but there is no real 'investment'.

The promoter convinces people to invest with their scheme. They then use the money deposited by early investors to pay the first 'dividend' until investors feel comfortable and decide to invest more. Some investors then encourage their family and friends to join. Eventually the scheme falls apart because the promoter starts to spend the money too quickly or the pool of investors dries up.

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How to identify an investment scam?
True stories of investment scams?
How to check an investment is real?
What to do to protect yourself from investment scams?

-Reclaws International (Reclaws.com)
Mar 07

Reclaws International: Fake companies and investment frauds


Investment scams are often so professional, slick and believable that it is hard to tell them apart from genuine investment opportunities. Our tips break down how investment scams work.

How to identify an investment scam

Investment scams can come to you via a phone call, email or social media. They may even be an offer from someone you trust.

There are three main types of investment scams:

  • The investment offer is totally fictitious and does not exist.
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Bitcoin SCAM warning: Twitter bots impersonate Elon Musk and Donald Trump for your tokens

-Reclaws International (Reclaws.com)
Feb 14

Reclaws.com: Bitcoin SCAM warning-Twitter bots impersonate Elon Musk and Donald Trump for YOUR token


BITCOIN traders and other cryptocurrency owners have been urged not to fall for fake Twitter bot accounts of celebrities like Elon Musk or Donald Trump, asking for crypto donations in exchange for bigger rewards.

Thousands of fraudulent Twitter accounts have flooded the social media platform in the past days, fooling people into paying small donations to specific crypto wallets.

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Vise tightens around Israeli online scammers; Israeli banks close Forex companies’ accounts, and Twitter follows Google and Facebook in banning Cryptocurrency ads

-Reclaws International (Reclaws.com)
Feb 14

Reclaws International: European Union bans binary options, strictly regulates CFDs


The European Securities and Markets Authority announced that it is banning binary options and placing restrictions on the sale of contract for differences (CFDs) to retail investors.

Binary options and contracts for differences are financial products that are frequently abused by cybercriminals to perpetrate online investment scams.

Beginning in the middle of the last decade, a multi-billion dollar online trading industry developed in Israel that offered binary options, forex and CFDs to ordinary, unsophisticated investors in Israel and abroad. Much of the

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The UK regulator publishes a list of 94 unauthorized binary options firms that target UK customers.

-Reclaws International (Reclaws.com)
Feb 02

Reclaws.com: FCA takes a “name and shame” action against unregulated binary options firms


As FinanceFeeds has reported earlier, the UK Financial Conduct Authority (FCA) has taken over the oversight of the binary options segment with effect of January 3, 2018. The firms involved in binary options trading in the UK are now required to be authorised by the FCA.

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Feb 01

Best Binary Options Brokers VS Scam Brokers - Incl. Binary Robots


This is a " GOOD TO KNOW " information before investing in Binary Option Trading.

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The UK's financial regulator is issuing a fresh warning to consumers over bitcoin and other cryptocurrencies that are luring people into scams online.

Reclaws International (Reclaws.com)
Jan 28

Reclaws.com: Warning over bitcoin, cryptocurrency and binary option scams


The Financial Conduct Authority (FCA) has said investors are now being targeted by fraudsters on Facebook, Instagram and Twitter, more than they are over the phone, tempting people to put cash into cryptocurrencies and other financial products such as binary options, contracts for difference (CFDs) and forex.

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Jan 17

Reclaws.com: How to find genuine binary trading companies


Fimdimg a Genuine binary trading platform is a very difficult task. this video may help you find trustworthy traders.

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Jul 18

Reclaws International: Companies doing false trading practices


The term “scam” covers a wide range of behaviour, from providing misleading information to lure you in, through to vanishing account balances – and even dishonest trading advice. Likewise, a particular broker might not be technically fraudulent in its behaviour; it’s just that the service available on the platform (such as highly unreliable uptime or failure to reimburse funds in a timely manner) means that this is a broker that really ought to be avoided.

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Jul 27

Reclaws International: Don't Gamble On Binary Options


There are lots of ways to lose your money in this world but here’s one I hadn’t encountered before: binary option Web sites. They have become popular over the past few years with new ones appearing all the time: anyoption.com, bulloption.com, spotoption.com, binaryoption.com, etc. etc

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