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FinTelegram News

Most Wanted Scam Perpetrators – The Israeli individuals behind StoxMarket, 4Cash, Broker Yard, and other scams

The two Israeli Chaim Elazar Bornstein and Mordechay Litke are the perpetrators behind some of the biggest binary options scams over the last couple of years such as KayaFX, StoxMarket, or Broker Yard. Typically, they acted via trustee companies. The Seychelle citizens Genevieve Magnan or Vanessa Payet acted as directors of Marketier Holdings Ltd or Profitier Ltd respectively.

EFRI NGO launched – Europe needs to step up the fight against cybercrime and investment scams

The European Funds Recovery Initiative (EFRI) was founded in November 2018 by FinTelegram Investors Protection Ltd (“FinTelegram”) together with auditors and lawyers. The original EFRI mission was to provide support to scam victims in recovering their losses. The former EY partner Elfriede Sixt, was appointed as EFRI Principal. As an auditor and Certified Public Accountant, she has focused for years on FinTechs and is also an expert in IFRS and due diligence. Since its inception the EFRI mission has evolved along with the acquired information on victims, scams, and their perpetrators. Today, we are proud to announce the launch of EFRI NGO, a victim-driven vehicle to recover funds and fight cybercrime.

Cross-jurisdictional law enforcement – US Regulator CFTC serves binary options fraud complaint to Defendants Yossi Herzog, Kobi Cohen, and Shalom Peretz by alternative means

The US Commodity Futures Trading Commission (CFTC) published a legal notice in The Times of Israel on May 21 in an attempt to inform three…

Preventing Cybercrime – The Praxis Question, the Estonian Challenge, and why it’s important to take action against financial services providers!

It is almost boring to repeat the same statement over and over again - financial service providers have a very special responsibility for the well-being of society, the economy, and consumers. This responsibility is the reason why we do have financial market supervisory regimes and why financial service providers need licenses and permits. Efficient KYC/AML/CTF procedures are a conditio sine qua non for the dawning cybersociety. In view of the booming cybercrime, we must work much more radically on a global compliance regime.

Request 4 Information – Broker Brands IronFX, FXGiants, and Notesco Group

Many good stories start with “once upon a time”. Our story about Notesco, a broker regulated by several regulatory regimes, and Wirecard client is no exception. The story took place in Bratislava in spring 2018. At that time some people met at the Grand Hotel River Park to discuss a delicate transaction that involved this globally acing broker.

© 2020 Financial Intelligence Bureau Ltd
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