BCSC | FinTelegram News

Category: BCSC

October 9, 2021

The illegal offshore broker LQDFX and its EuroTrader connections!

This Canadian BCSC recently issued a warning against the illegally operating offshore broker LQDFX (www.lqdfx.com). LQD Limited in the Marshall Islands is the operator. This unregulated offshore broker has been co-founded and controlled by Ozan Ozerk, a director and beneficial owner of the CySEC-regulated EuroTrader Group, and his partner Soteris Georgiou. LQDFX and the offshore EuroTrader broker schemes illegally acquires investors in Europe and North America and onboard clients in deliberate violation of KYC/AML procedures!

October 2, 2021

Broker scams Bit-Market et al. vanished!

The broker scam Bit-Market is offline. At least for the moment! Anyone trying to access the website directly by keying in the domain receives the Cloudflare error message 1016. The UK Financial Conduct Authority and the British Columbia Securities Commission issued warnings against the scam in March and April 2021, respectively. The operators are said to be the two offshore entities, Strong Momentum LLC and Geronimo Tech Ltd. The latter is also connected with the Cryptvest and Cryptec scams.

September 1, 2021

Attention!WorldMarkets scam still active with an illegal Polish payment processor

WorldMarkets is a huge investment scam that has been active for years. We have reported about it several times. Financial market regulators like the UK FCA have issued warnings against the WorldMarkets scheme. However, the fact is that WorldMarkets is still active. In doing so, the scam works with a wide variety of ever-changing payment processors. Most recently, victims have reported to us that they have transferred payments to the bank account of the Polish public relations company Wolfs Trading Blockchain Technology S.A.

September 26, 2020

Austrian FMA and other regulators warn against StarkMarkets broker scam

The Austrian Financial Market Authority FMA has issued an investor warning against the scam broker StarkMarkets (www.starkmarkets.com) which is allegedly operated by Krisimark Ltd and SWISSGEM Ltd in Sofia, Bulgaria. Already in June 2020, the Canadian British Colombia Securities Commission (BSC) issued an investor warning, and in July the New Zealand FMA (here). In May 2020, the Italian CONSOB blocked the website of broker scam MarketsCFD (www.marketscfd.net) of SWISSGEMS Ltd and Media Solutions Ltd.

Binance Chief Financial Crime Compliance Officer Denied Bail in Nigerian Case!

Think twice before starting to work for the world's larger crypto exchange. As Binance’s financial crime compliance officer faces money laundering charges in Nigeria, questions mount over the company’s compliance safeguards and the risks involved in its global operations. The denial of bail for Tigran Gambaryan and the ongoing legal battle could have far-reaching implications for the company’s future.

Fintech

Solaris Bleeds Cash and Jobs: Can This High-Risk Fintech Survive, Let Alone IPO?

Solaris, a German fintech and neobank, has a long history of compliance troubles. Moreover, its ongoing financial losses and regulatory woes doubt its long-term profitability, even as it sheds jobs and restructures for survival. A potential IPO, as rumored by the German platform Gründerszene, seems speculative at best in light of its deep-rooted issues with compliance and financial stability.

Breaking: The Binance-Like $3.1 Billion Money Laundering Settlement of TD Bank!

TD Bank, one of North America's largest financial institutions, has been hit with a historic $3.1 billion settlement over money laundering violations. This case represents one of the most significant AML enforcement actions in U.S. history, both in terms of the financial penalties imposed and the severity of the admitted misconduct. Only Binance, with its $4.1 billion settlement, was even larger.

Gotbit and Russian Executives Charged by U.S. DOJ and SEC for Crypto Market Manipulation!

Gotbit Consulting LLC, along with its Russian executives, has been charged by the U.S. DOJ and SEC for its role in a widespread market manipulation scheme. By using wash trades, Gotbit inflated crypto asset prices and volumes, deceiving investors and raising millions in illicit profits. The company’s fraudulent activities were executed across multiple jurisdictions, with key figures now facing extradition and prosecution.

SEC Charges Market Manipulators in Crackdown on Crypto Asset Fraud

The U.S. SEC has charged three market makers and nine individuals for manipulating the crypto asset market, generating artificial trading volumes and misleading retail investors. The fraudulent schemes created the illusion of active markets, prompting unsuspecting investors to pour money into manipulated crypto assets. The DOJ filed criminal charges against the scheme operators in a parallel transaction.