Consob has ordered the black-out of five new websites offering financial services illegally. The regulator has the authority to order the black-out of websites that illegally offer financial services to Italian consumers. Thus Consob can order internet service providers to block access from Italy to websites offering financial services without the proper authorization.
Many German companies are acting as unauthorized payment processors for scammers. The law calls it money laundering. Lipans Smart Consult GmbH was one of those laundromats. BaFin issued a Cease-and-Desist Order but the company has already been dissolved months ago.
It took two years before the UK regulator followed FCA after the U.S. CFTC’s Regulatory Enforcement Action and fined the FCA-licensed FX broker TFS-ICAP for fraudulent trading practices. FCA recently announced that it has imposed a £3.44 million financial penalty on TFS-ICAP Ltd for market misconduct.
Lanistar is a prominent FinTech on Instagram and proudly presents young, sexy, and fashionable influencers on its website. The company was also hyped by bullish press releases from its partner MasterCard. The FinTech is aiming for a £1 billion valuation. The UJ FCA, however, has issued an investor warning against Lanistar, advising that it’s operating without authorization in the U.K.
Broker Website Legal Entity Regulator British Bitcoin Profits https://marketing4you.tech/px4Mqn? not given FCA Ubrokers.com/Ubrokers www.ubrokers.com, www.ubrokers.com/eu Capital Securities S.A. FCA Mango Money Markets mangomoneymarkets.com Digital House Group Ltd | FCA Mycoinology www.mycoinology.com not given FCA 24Invest HTTPS://FINANCE-INTL.COM/ES/ CNMV Master Trading FX https://mastertradingfx.com CNMV
On 10 Nov 2020, the UK FCA issued an investor warning against MarginElite. This is a typical white-label scam that is actually easy to recognize. At the latest when you see that Praxis Cashier is the payment processor and has integrated the Russian Mir for credit and debit card payments.
The FCA issued an investor warning on November 9, 2020, against BeforexCapital and Capital Holding Funds allegedly operated by Capital Holdings LLC, St. Vincent & the Grenadines. As payment processors, we have discovered Praxis Cashier with the Estonian crypto exchange MisterBit.
The UK FCA has issued an investor warning against the broker scam DGXLTD a/k/a Digital Exchange Limited (www.dgxtd.com, www.dgxltd.io, www.dgxlimited.com). Allegedly the scam is operated by Securex Plus Solutions EOOD, registered in Bulgarian. We have identified the licensed Estonian crypto exchange operator Jubiter (www.jubiter.com) operated by Jubiter Technologies OÜ as the facilitating payment processor.
Whistleblowers are probably the most powerful weapon of law, tax, and regulatory enforcement to combat fraud and scams. This is especially true for the emerging cybersociety with its borderless scope of action. The U.S. SEC has this week awarded more than €32 million in awards to whistleblowers.
