The German regulator BaFin has issued a cease and desist order against the scam broker FX Leader (www.fx-leader.com). This scam, in turn, is directly linked to the SwisCapital (www.swiscapital.com) scam. In fact, the domain has been redirected from FX Leader to the SwisCapital broker scam, which is allegedly operated by a SwissCapital Limited, a company allegedly registered in St. Vincent and the Grenadines. The broker scams are really bad for small investors and consumers. But worse, much worse are the facilitating payment processors that make fraud possible in the first place.
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Legal Frontiers in Cyberfinance: Navigating the Complex Terrain of Cryptocurrency Fraud, NFT Disputes, and Data Breach Reckonings
In recent years, the confluence of cyberfinance and cybercrime has witnessed substantial legal shifts, propelled by the swift advancement of financial technologies. Notably, cases like the FTX collapse, marked by allegations of financial mismanagement and fraud, and regulatory scrutinies facing Binance over cybercrime facilitation have captured public attention, spotlighting the burgeoning wave of cybercrime activities within the financial sector.