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May 16, 2020

UK Regulator FCA Warns Against Funds Recovery Services Providers

It was an intense week for the UK Regulator Financial Conduct Authority (FCA). No fewer than 28 investor warnings were issued in the week to..

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March 8, 2020

Pandemic Panic – Cyprus Regulator CYSEC requests Regulated Entities to prepare for the Coronavirus

The Cyprus Securities and Exchange Commission (CySEC) issued a circular (Re: COVID-19 -Business Continuity and Contingency Plans )to its regulated entities asking them to review..

May 31, 2019

German Handelsblatt report – Wirecard involvement in Option888 binary options fraud

Felix Holtermann from the German Handelsblatt today reported on the German Fintech star and DAX member Wirecard and its connections with binary options scams. The..

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May 23, 2019

The Wolf of Sofia, Marina Andreeva, and the Offshore Companies

A bomb threat against the Palace of Justice in Sofia has hindered the scheduled court hearing for the extradition of Gal Barak requested by Austria...

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May 14, 2019

FinTelegram Under DDoS Attack

FinTelegram is again the target of a huge DDoS attack. We apologize for any inconvenience our readers may experience and do our best to fight..

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April 26, 2019

Another Crypto Spring Event – Jubiter Crypto Debit Card Launched

The crypto-market has apparently gradually digested the 2017 hype with all its negative implications. During the hype, hundreds of scams ripped off investors via malicious..

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April 19, 2019

Happy Passover, Happy Easter And A Concise Status Report From EFRI!

Hi there, I am Elfriede Sixt, co-founder, and coordinator of the European Funds Recovery Initiative (EFRI). First and foremost, I wish you a Happy Passover..

April 12, 2019

U.S. Government Moves For Alternative Victim Notification Procedures In The Austin Smith Case

On March 29, 2019, Robert Zink, Acting Chief of the Fraud Section of the U.S. Department of Justice (DOJ), filed a motion in the Austin..

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March 22, 2019

Thank You, BaFin! German Watchdog Orders StronIT and Postbank To Return Money To Investors Of Illegal Broker Schemes Like Bluetrading

The EFRI & FinTelegram campaign against illegal Payment Services Providers (PSP) is gaining momentum. BaFin has responded to the numerous complaints from victims of illegal..

February 26, 2019

Shota Shalelashvili Asked About FinTelegram Report in Georgian TV

FinTelegram reports start to go viral. Thanks to our many supporters and whistleblowers, FinTelegram has been able to establish a case around Gery Shalon and..

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February 13, 2019

FFF Public Letter – Writing And Publishing Code Cannot Violate Securities Laws But Is Freedom Of Speech

A recent public statement from the U.S. Securities and Exchange Commission (SEC) implied that writing and publishing code might constitute a violation of securities laws...

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January 31, 2019

Please Wait! Our January Update On The Envion Liquidation

Please Wait! At the moment the EVN token investors mainly hear “Please wait”! The liquidator appointed by the Swiss Bankruptcy Court is currently working his..

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.