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Tag: Boiler Rooms

March 3, 2020

BBC Report – Boiler Room agents caught red-handed

BBC published a remarkable video footage yesterday documenting boiler room activities. According to BBC, a UK guy, who goes by the name “Jim Browning” hacked..

January 2, 2019

INVESTOR WARNING – Illegal Broker XTraderFX, GPay, And Money Laundering [Part 2]

In part 1 of our XTraderFX Report, we covered the activities of the network behind the illegal broker sites XtraderFX, SafeMarkets or OptionStars. The mission..

December 28, 2018

YUKOM Is Not The Only Illegal Online Trading Scheme

The Israeli Lee ELBAZ, 36, and her three co-conspirators Lissa MEL, Liora WELLES, and Shira UZAN are charged with running an illegal online trading scheme..

December 19, 2018

REPORT: PUMP AND DUMP SCHEMES IN CRYPTO REALM

A new study on pump and dump schemes in the crypto space has been published by universities in Israel and the United States with the..

October 23, 2018

BINARY OPTIONS: MORE VICTIMS OF SAFEMARKETS FRAUD

FinTelegram has already published some reports on the fraud of the binary options platform SafeMarkets. This platform, which has disappeared in the meantime, has left..

trading

August 6, 2018

MASSIVE PUMP AND DUMP SCHEMES IN THE CRYPTO MARKET

History shows that – whenever possible – people find means to defraud and enrich themselves at the expense of other inexperienced people. New technology most..

Compliance Report: Sergey Mendeleev, Garantex, and Exved – The Rising Role of Crypto in Russia’s Sanctions Evasion Strategy

Sergey Mendeleev, a prominent figure in Russia's cryptocurrency scene, has played a central role in the establishment and operation of two key platforms—Garantex and Exved. These platforms have been instrumental in facilitating cross-border payments and crypto transactions, potentially serving as important tools for Russia’s sanctions evasion strategy. Mendeleev's growing influence in this space, coupled with Russia's evolving regulatory framework, positions him as a key player in Russia.

Russia’s New Crypto Strategy for Sanctions Evasion

Russia’s new crypto laws, allowing mining and international payments in digital currencies, are part of a broader strategy to evade Western sanctions and reduce dependence on the U.S. dollar. This move, led by the Central Bank of Russia (CBR), opens up new compliance risks for global financial institutions dealing with Russian entities. The new laws are set to take effect in September for cross-border payments and in November for crypto mining.

Secretive Cyprus Funds Used to Obscure Megayachts and Real Estate Linked to Sanctioned Russian Banker

A recent OCCRP investigation revealed that Cyprus-registered RAIFs were used to hide megayachts and real estate linked to sanctioned Russian banker Andrei Kostin. These secretive funds, managed by Inveqo, allowed clients to avoid disclosing their ownership, raising concerns about the effectiveness of sanctions and regulatory enforcement. The case highlights the challenges of ensuring transparency and preventing financial crime in the global investment landscape.

First-Ever Crypto Seizure in Scotland Under New UK Law

Crypto has undoubtedly become mainstream, particularly in the cybercrime sphere. In a first for Scottish law enforcement, £110,000 in cryptocurrency has been confiscated from John Ross Rennie following a violent robbery. Under new UK rules, police can now seize crypto assets without needing to make an arrest, highlighting a growing focus on tackling digital crime as incidents involving cryptocurrency continue to rise.

Former Lebanon Central Bank Governor Riad Salameh Charged with Financial Crimes

It was a long-expected move. The powerful former Lebanon Central Bank Governor Riad Salameh has been arrested and charged with embezzling $42 million in public funds, part of a broader $110 million fraud case. His detention comes amid ongoing domestic and international investigations into financial misconduct during his controversial three-decade tenure. In 2022, the European Union Agency for Criminal Justice Cooperation (Eurojust) froze assets worth €120 million tied to Salame.