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.

US Treasury Forgives Ukraine Looters!

On 26 September 2024, the United States Treasury’s Financial Crimes Enforcement Network ‘FinCEN’ made the astonishing decision to drop sanctions against ABLV Bank of Latvia. ABLV was sanctioned in 2018 for a list of reasons, including helping Ukrainian President Viktor Yanukovich’s bagman, Serhiy Kurchenko, steal billions of dollars from Ukraine.

Gurbir Grewal’s Departure from the SEC: His New Position and Potential Impact on Crypto Regulation!

Gurbir S. Grewal, the former Director of the Division of Enforcement at the U.S. Securities and Exchange Commission (SEC), has left his position to join Milbank LLP, one of the most innovative and prestigious law firms globally. This transition from his high-profile regulatory role to private practice is likely to have lasting implications, particularly on the SEC’s enforcement strategy in the crypto sector.

Warning Against The Imminent Danger of Pig Butchering For The Dawning Cyber Society!

Pig butchering scams are a devastating form of cybercrime that blend romance and investment fraud, leaving victims emotionally and financially shattered. These sophisticated operations, run by organized crime syndicates, often exploit human trafficking victims as unwilling scammers. The perpetrators meticulously cultivate trust over months, luring targets into fraudulent cryptocurrency investments through fake platforms.

MLM Schemes

Latest Arrests in $4 Billion Forex AI Fraud Scheme OmegaPro and the Austrian Connection!

FinTelegram has reported on the fraudulent crypto MLM schemes OMNIA Tech and OmegaPro several times in the past. This week, various media outlets have reported the arrest of Robert Velghe in Turkey, who has played a crucial role in both scams. The OmegaPro MLM scam is believed to have stolen around $4 billion from victims worldwide. Here is our update with a request for additional information from whistleblowers.

Crypto MLM Scam: David Carmona Sentenced to 121 Months for IcomTech Crypto Ponzi Scheme!

iComTech was one of the numerous fraudulent MLM schemes that used cryptocurrencies as a means of fraud in parallel with the crypto hype of 2017/18. David Carmora started IcomTech in approximately 2018 with other co-conspirators as a purported cryptocurrency mining and trading company. The scheme promised to earn its victims high profits and guaranteed daily returns that would double their money within six months.