Mark Lagarde | FinTelegram News

Author: Mark Lagarde

August 14, 2020

Dutch Regulator warns individuals found on boiler room ‘sucker lists’

Dutch watchdog AFM warned 2,500 Dutch individuals that their names appear on a boiler room's potential client list. The list was seized during an international criminal investigation in Marbella in March 2020. The Dutch Police started the investigation over two years ago after a total of 40 people reported they had been conned out of a combined €6m by boiler rooms operating under such company names as FX-CI, Global Trading Investment Group, or Power Capital Financial Trading.

August 12, 2020

Cybercrime Economy – Discount prices for dark goods to empower cybercrime rookies

Cybercrime is just the other side of the digital age coin and is at least as vibrant as the legit side. Like any price in free markets economies, prices for basic dark goods in the cybercrime economy such as stolen personal data, hacked accounts, or payment card information not only reflect the supply and demand situation but also provide insight into cybercrime activities.

August 10, 2020

Investor Warning – FCA warns against Bleaxmond and ForexGrowth broker scams

The UK regulator FCA has warned against the Estonian broker scam Bleaxmond. Since the warning, the registration on the website (www.bleaxmond.com) is blocked. The illegal broker is operated by AlephLink Solutions Ltd OÜ, which is registered in Estonia. Efthymios Marangos and Karmo Neider are registered as directors.

August 10, 2020

Spanish CNMV warns against serial broker scams

The Spanish regulator CNMV today issued investment warnings against some scam broker brands which are operated by serial scammers. They are are "Quick-and-Dirty" mutations of standard scam broker templates and apparently have been produced in the very same scam factory. All of these scams have a strong relationship into the Russian scene and deploy Russian payment processors.

August 7, 2020

The CySEC Scam Tourism – Launch of Investigative Series

CySEC is the financial supervisory authority of the Republic of Cyprus and a sort of gatekeeper for the EU financial markets. Cyprus has developed into the single most important gateway to EU financial markets for non-EU citizens and organizations. The Israeli financial scene in particular makes intensive use of this gateway. But also Russian individuals and companies enter the EU financial markets via Cyprus. The CySEC is controversial within the EU regulators because of its "relaxed" approach.

August 7, 2020

Investor Warnings – Austrian FMA warns against broker scams – illegal payment processors exposed

The Austrian Financial Market Authority has issued a number of investor warnings in recent days. Among them are again scam customers of the notorious Cypriot payment processor Praxis Cashier System Ltd (d/b/a Praxis Cashier and Praxis Pay) of Amit Klatchko. Specifically, the FMA warns against the broker scams Tradixa, GFXRoyal (GFX Finance), HBC Market (HBC Markets), and BSB Global.

Fintech

August 3, 2020

FinTech Alert: Monzo starts to close down business accounts amid COVID-19 Depression

In the last few days, there have been several reports in the UK and US media that the UK FinTech star Monzo could be having problems. The company's loss has more than doubled from 2019 to 2020. In addition, the startup has announced that the procedures for the prevention of financial crime have to be reviewed the outcome of which could have a significant impact on its finances. Monzo is already starting to close business accounts as of September 1, 2020. Do we just see the beginning of the end of the FinTech Hype?

July 31, 2020

Crypto Manipulation: Chinese authorities arrested 27 individuals involved in huge PlusToken crypto scheme

The gigantic Chinese PlusToken crypto scheme has kept the crypto markets massively busy in the last two years. PlusToken with $5.7B raised from some 800,000 members is said to have been a driving force behind manipulations in the crypto markets. In a Chinese law enforcement action, 27 key individuals involved in the PlusToken crypto scheme have been arrested. Several Chinese news outlets reported that another 82 members of the scheme have been arrested.

July 30, 2020

Former Wirecard Head of Business Development now runs FCA-regulated Moorwand

The parallels between the German Wirecard and its UK Mini-Me Moorwand are remarkable. Both companies do and did their business primarily in high-risk segments such as porn, gambling, or online trading. They have accomplished quite a reputation for their laissez-faire KYM/AML/CTF approach. In March 2020, Wirecard's former Head of Business Development Luc Gueriane was appointed Chief Commercial Officer of Moorwand.

July 29, 2020

Spanish Watchdog CNMV warns against Maxizoption, EXM Solution, and Bitsends

Spanish regulator CNMV issued investor warnings against several broker scams. Among them are the Maxizoption, EXM Solution, and Bitsends. Non of these brokers is registered in any regulatory regime on this planet. These scams are merely slightly different copycats (mutations) of existing scam templates. The scammers currently run massive-scale operations with many scam sites under various domains with the goal of catching and cheating as many small investors as possible.

July 28, 2020

Investor Alert – Potential crypto bull run leads to aggressive scam attacks

The lead crypto Bitcoin (BTC) has broken through the $10,000 resistance level after weeks of futile attempts and even took the $11,000 mark in the last 24 hours before bouncing back. The Ether (ETH) had already made an impressive bull run before and managed to break through the $330 mark. It is currently not clear whether this is really the long-awaited crypto bull run, technical market adjustments, or whale movements. Stay alert, don't fall for scammers and investment schemes.

July 23, 2020

Request 4 Information – The ForexClientCabinet scam incubator

People with a criminal inclination and the desire to run their own cybercrime venture find almost heavenly opportunities in these digital times. Even if you are not the smartest guy you can establish your own forex broker. All can be done via your computer at home. Forex incubators such as PheasanTech or Sigmate Informatics and many others offer turnkey solutions for "would-be" Forex brokers and scammers. Company formation and license included. A paradise for scammers, isn't it?