BDS Markets | FinTelegram News

Tag: BDS Markets

February 5, 2023

CySEC-Regulated BDSwiss Rearranged Its Domains And Business Activities!

2022 was for sure a difficult year for the BDSwiss scheme. For a few months in Q2 and Q3 2022, the CySEC-regulated German BDSwiss has not been accepting new clients. In March 2022, the German BaFin launched investigations against the offshore broker BDS Markets. In May 2022, the FCA banned BDSwiss from the UK due to its offshore activities. Our review today found that the CySEC-approved domains BDSwiss.com and EU.BDSwiss.com have been terminated. Here is an update.

August 18, 2022

Following FinTelegram Reports: CySEC-Regulated BDSwiss Terminated Offshore Onboarding!

When precisely BDSwiss lifted the new client registration blocking, we do not know. In our last review on June 16, 2022, the new client registration was still disabled, and we received a respective pop-up warning. FinTelegram has repeatedly drawn attention to BDSwiss' offshore onboarding process for EU and UK clients. In our review today, new client registration was possible again, whereas offshore onboarding for EU and UK residents was no longer possible. That's good news!

April 29, 2022

CySEC-regulated BDSwiss does temporarily not accept new clients!

We have been following the activities of the CySEC-regulated Cypriot Investment Firm (CIF) BDSwiss and have reported extensively on their offshore onboarding. We have been threatened several times by their Compliance and Legal Departments for doing so. In fact, we have perfectly documented the offshore onboarding approach for EU and UK residents at BDSwiss. In our review today, we were advised on the website that secondarily no new brokers can be accepted via the CySEC approved domain. Existing customers are promised a deposit bonus via email.

UNODC Report: Technology-Powered Cybercrime on the Rise in Southeast Asia!

The billion-dollar cyberfraud industry in Southeast Asia is booming, fueled by organized crime syndicates exploiting the latest in AI and cryptocurrency. The UNODC report notes that these criminal networks are outpacing government efforts to regulate and combat their operations. Urgent reforms and enforcement are needed to prevent further damage.

How U.S. Law Enforcement Infiltrated The International Crypto Scene!

In an unprecedented move, the FBI infiltrated the crypto world with its own token, NexFundAI, to crack down on market manipulation. This case marks a significant shift in crypto enforcement, signaling that law enforcement is evolving its tactics to keep pace with the complexities of the digital asset space. As more fraudsters are exposed, the crackdown on wash trades and pump-and-dump schemes is just beginning.

Breaking: German Co-Founder of Crypto Fraud Scheme USI Tech On The Run!

USI Tech was one of the first MLM schemes to use cryptocurrencies to defraud its investors. FinTelegram has issued several warnings aginst the scheme. Horst Jicha has now gone fugitive, leaving behind a trail of defrauded investors and evading justice in the $150 million USI Tech fraud case. With Jicha on the run, the case serves as a chilling reminder of the risks in the volatile crypto world.

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.