Tag: iTrader

The Georgia-born Israeli Gery Shalon has been a prominent figure in the world of cybercrime, especially after being labeled as the alleged mastermind behind some of the most significant hacks on the US financial system in the early 2010s. Shalon was also the mastermind behind Gal Barak's cybercrime organization. He allegedly made a deal with the U.S. prosecution and snitched on his former partners.

Cyprus Investment Firms (CIF) regulated by CySEC are a problem for the security of the European financial markets. The CySEC CIFs work with illegal offshore mutations, fraudulent marketing campaigns, and target consumers and retail investors in the EU. Now the UK watchdog FCA has banned CySEC-regulated Finteractive Ltd d/b/a FXVC from UK clients. After Brexit, FXVC was allowed to operate under the Temporary Permission Regime (TPR) with the CySEC license in the UK.

FinTelegram has reported on 21 July 2020 that Rodeler Ltd is voluntarily renouncing its CySEC license. Consequently, 24option, the trading style of the broker will also be terminated. On the website of 24option (www.24option.com) customers are informed that the operation will be closed as of August 20, 2020, the "Termination Date." The CySEC announcement states that this license renouncement has already been decided as of July 6, 2020.

Since 2018, the authorities in the US and Europe have taken decisive action against binary options fraudsters. Most of them are Israelis. Their schemes have defrauded tens of thousands of investors worldwide and stole up to $10 billion annually according to the FBI. Now, finally, the first binary options scheme is being accused in Israel - iTrader and its operating entity Gal Media Trader Ltd.

Almost 3 years after the office raid and the temporary arrest of seven people around the Israeli binary options...