Cyberscams | FinTelegram News

Category: Cyberscams

October 28, 2020

Investor Warning – Bogus Law Firms and Funds Recovery Experts Eternity Law and Roshental Law

Victims of scams, unlawful or malicious business practices are typically desperate and psychologically vulnerable. In their distress, they often seek help from self-proclaimed funds recovery experts and unfortunately often end up back with scammers. These funds recovery scammers demand many thousands of Euros initial payment just to become active. Often they disguise themselves as lawyers or criminal law experts and rip off the victims again. These are the worst of all scammers.

October 12, 2020

The Fake Regulator Scam targets victims with forged emails and fake orders

The Fake Regulator Scam model is for sure not new, but amid the COVID-19 crisis and the many scams, it seems to be booming again. After the UK FCA, the German BaFin, the Austrian FMA has recently issued a warning against scammers who approach potential victims as alleged employees of the regulatory authority and offer various services that are supposed to bring money to the potential victim.

August 18, 2020

Celebrity and influencer investment scams are the new social media reality

Shocking but true. Social media or message services are a main channel for scammers. Over the last four months, the UK National Cyber Security Centre has taken down over 300,000 malicious URLs linking to fake celebrity-endorsed investment schemes featuring famous faces such as Richard Branson and Martin Lewis. Scammers ruthlessly rip off naive consumers and small investors via fake celebrity accounts, unscrupulous influencers, fake success stories, and false endorsements.

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 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.

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 15, 2020

PumaTS – Israeli-Bulgarian White Label Broker Platform Provider Vanished

On 23 June 2020 FinTelegram News issued a Request for Information (RFI) concerning the white label broker platform Puma Trading Solutions aka PumaTS operating in Bulgaria. We wanted to know more about this platform and the company and the people behind it. Officially the PumaTS White Label Broker solution is operated by the Bulgarian Marketing and Consulting Ltd. At least this company concludes the license, marketing, and platform services agreements with its clients. In response to our RFI, the PumaTS website that was available at www.pumats.com has disappeared. Fortunately, FinTelegram received plenty of intel on PumaTS.

Cyberscams

July 5, 2020

Instagram Influencers arrested in Dubai in $430 Mio Cyberscam

Not a Nigerian prince, but a Nigerian influencer named Raymond Abbas was recently arrested in Dubai. The man with some 2.4 million followers on Instagram is said to have cheated them out of hundreds of millions. The damage is said to amount to approximately $431 million. The 38-year-old man is accused of credit card theft.

June 28, 2020

In Fraud we trust – Russian cybercriminal pleads guilty in US Court

The Russian citizen Sergey Medvedev, 33, was one of the leaders of the cybercrime organization and dark-web marketplace Infraud. On June 26, 2020, he pleaded guilty to RICO conspiracy before a US Court the U.S. Department of Justice announced. Medvedev was arrested in Thailand in 2018 and extradited to the United States. It has been reported that at the time of his arrest, Medvedev controlled more than BTC 100,000 (appr US-$910 Million).

May 3, 2020

Request 4 Information – Vanished Forex and Crypto Scams CCXcrypto, ProCapitalMarkets, and MyCoinBanking

The crypto broker scam CCXcrypto has already disappeared from the web for several weeks. The website is offline and can only be found in the..

March 4, 2020

German Handelsblatt published a new report on Wirecard and the EFRI money-laundering complaint

Felix Holtermann and Christian Schnell of the German Handelsblatt reported on the money-laundering report filed against Wirecard by the European Funds Recovery Initiative (EFRI). In a detailed article titled "The past catches up with Wirecard" the background of the global scam industry and the respective involvement of payment processors is explained.

February 22, 2020

Crypto rumors – PlusToken scheme perpetrators systematically manipulated crypto prices

In the last few days, speculations about massive manipulation of the cryptocurrency market have again made the rounds. Allegedly, the scammers behind the Chinese PlusToken..