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Tag: FX Leader

Analysis – Prosecuting scam networks as criminal organizations

Court Cases Ben -
We have been analyzing the cybercrime investigations and indictments of the Austrian and German law enforcement agencies. Most recently, the public prosecutors' offices in Bamberg, Rostock, and Cologne caused a stir with action days in Israel, Cyprus, Ukraine, Serbia, Bulgaria, and other jurisdictions. The respective law enforcement agencies investigate different cases but share their findings and coordinate their actions and charges. They do not prosecute individual scams but work on the hypothesis of criminal organizations.

Action Days Update – The Snitching Game, fears, and a decisive arrest!

Illegal Broker Activities Ben -
German law enforcement authorities have decided to hunt down and shut down the Israeli scammer scene worldwide. They target scam-facilitating broker platforms, payment processors, and marketing companies. In August 2021, German law enforcement raided PandaTS, early October, they raided offices in Bulgaria, Georgia, Cyprus, and Israel to crack down on an Israeli cybercrime organization and its scams. Four suspects have been arrested. One of them is Pavel Kotler, allegedly one of Gery Shalon's key finance guys. The Israeli Snitching Game is on.

Update on Europol law enforcement actions in Cyprus, Bulgaria, and Ukraine

Illegal Broker Activities Ben -
On 6 October 2021, extensive law enforcement actions were coordinated by Europol and Eurojust in Cyprus, Bulgaria, and Ukraine. Please read our report here. These actions took place on the initiative of German prosecutors in Goettingen, Braunschweig, and Rostock and concerned the so-called "FX Leader Case." FX Leader was one of the alleged up to 170 scam brands operated by a cybercrime organization. During the action, a suspected high-ranking member was arrested in Limassol. Police seized numerous websites and domains.

Law Enforcement Action Days – International cybercrime organization with 170 scams smashed!

Illegal Broker Activities Ben -
Last week, several international law enforcement actions were in Cyprus, Ukraine, Bulgaria, and the Netherlands. FinTelegram reported. On Monday, German law enforcement agencies and Europol disclosed that it was a strike against a Ukraine cybercrime organization that purportedly operated around 170 broker scams, such as FX-Leader. German law enforcement agents together with Europol, Eurojust, and local police authorities, raided offices and homes in Cyprus, Bulgaria, the Netherlands, and Ukraine. One high-value target was arrested in Cyprus!

Update on cybercrime enforcement actions in Israel, Cyprus, and Ukraine!

Boiler Rooms tamir -
In recent days, international law enforcement actions have taken place in Israel, Cyprus, and Ukraine. While the U.S. FBI initiated the action in Israel with office raids and 26 arrests, the enforcement activities in Cyprus have been organized by German authorities. A well-known tech entrepreneur was arrested in Israel; in Cyprus, the boss of a CySEC-regulated investment firm was detained; in Ukraine, a notorious boiler room operator was arrested. All these enforcement actions were conducted on legal grounds of longing investigations of cyberfinancial crimes.

Another regulator warning against FX Leader broker scam!

BaFin Charlene Lensburg -
The FMA issued an investor warning against the broker scam FX Leader (www.fx-leader.com) allegedly operated by FX-leader Limited, St. Vincent and the Grenadines. In July 2020, the German regulator BaFin issued a cease and desist order against the scam broker (read this report). The FX Leader scam is directly linked to the SwisCapital (www.swiscapital.com) scam. The latter already vanished and was operated by the offshore entity ScissCapital Limited, also registered in St. Vincent and the Grenadines.

Investor Warning against FX Leader and SwisCapital broker scams!

BaFin Ben -
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.

FinTelegram is a cyberfinance intelligence and compliance platform investigating financial crime, regulatory violations, and the rails, entities, and ecosystems that facilitate them. Combining investigative journalism, whistleblower intelligence, and forensic compliance analysis, we map risk across payments, banking, crypto, and offshore structures to support transparency, accountability, and informed action.

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