THINK ELON MUSK BACKED YOUR CRYPTO EXCHANGE? ASIC’S LATEST REVEAL MAY SHOCK YOU

In an absolutely shocking turn of events that nobody could have possibly seen coming, the Australian Securities and Investments Commission (ASIC) has bravely stepped forward to reveal that, yes, those videos of Elon Musk passionately endorsing a cryptocur

JOHN OLIVER RIPS INTO METATRADER OVER ROLE IN ‘PIG BUTCHERING’ SCAMS

“If your friend told you to download an app, and you saw it in the app store with good reviews, you might assume everything on it was legitimate. In before, you saw MetaTrader’s logo which looks like three men in suits jerking each other off under a table

‘WTF’ AS IN ‘WHAT THE FRAUD?’, SUMSUB’S NEW PODCAST ON DIGITAL FRAUD

“We found a lack of informative podcasts talking about digital fraud threats and prevention for business owners. So, we decided to dive in and share our expertise along with industry top minds in the ‘What The Fraud?’ podcast.”

UK FCA COMMITS TO SWIFTER ENFORCEMENT ACTIONS

“Reducing and preventing serious harm is a cornerstone of our strategy. By delivering faster, targeted and transparent enforcement, we will reduce harm and deter others. We will also make greater use of our intervention powers to stop harm in real time.”

BNP PARIBAS AND CITI INVEST IN UNITED FINTECH

“Our vision of a neutral industry platform for digital transformation, to swiftly enable access to the world’s most innovative fintechs, is shared by every single C-level executive we’ve spoken with for the past four years, and their support energizes our

WHISTLEBLOWERS RECOVERED $2.3 BILLION IN THE US LAST YEAR

Since the modernization of the FCA’s qui tam provisions in 1986, whistleblower-initiated actions have led to the recovery of over $52.7 billion, showcasing the substantial impact of these efforts on combating fraud. However, there has been criticism direc

ERIK J. HASS TO PAY $830,000 AFTER $2.1 MILLION FOREX FRAUD, SIMPLY GAINS, INC

Despite assurances that depositors could not lose more than 20% of the funds they deposited, the defendants lost over $1 million trading forex and misappropriated at least $415,000 more to spend on Hass’s mortgage, credit card debt, and a Caribbean cruise

SEC CHARGES 16 FIRMS FOR OFF-CHANNEL COMMUNICATION

“Today’s actions against these 16 firms result from our continuing efforts to ensure that all regulated entities comply with the recordkeeping requirements, which are essential to our ability to monitor and enforce compliance with the federal securities l

SEC AND CFTC IMPOSE CONTROVERSIAL RULE ON HEDGE FUNDS

Some commissioners, like Hester M. Peirce, argue that the expansion of Form PF is driven more by an “unbridled curiosity” rather than a clear regulatory need.

UK’S UPCOMING CRYPTO RULES COULD UNDERMINE STATUS QUO OF CUSTODY SERVICES

Although regulating stablecoins is found as “a positive step”, the UK seems to be looking to enhance rules in the custody of other types of cryptoassets, including security tokens. According to the AFME, security tokens, which are inherently securities, s

NFA FINES LIME TRADING $100,000 FOR UNTIMELY REGULATORY REPORTING

The National Futures Association (NFA) has ordered Lime Trading to pay a $100,000 fine over failing to file various required financial reports and notifications timely with the US regulator, as well as failure to supervise.

EUROPEAN REGULATOR WARNS SOCIAL MEDIA TRADERS NOT TO ABUSE MARKETS

Non-compliance can result in sanctions, varying by member state, imposed by National Competent Authorities. These can include administrative or criminal penalties for specific infringements. The emphasis is on ensuring that investment advice on social med

FALLING PREY TO LOVE: ROMANCE SCAM VICTIMS RISE BY 22% IN 2023

Women reported higher average losses (£9,083) compared to men (£5,145). Individuals aged 55-64 were most frequently targeted, with a 49% rise in cases from 2022. Those aged 65-74 suffered the highest financial losses, averaging £13,123.

TOOKITAKI ADDS FRAUD PREVENTION TO AML SOLUTION RENAMED FINCENSE

“By merging Fraud and AML prevention into a single, powerful solution, we enable financial institutions to capitalise on the synergy to improve detection rates, reduce operational costs and prevent fraud in real-time.”

ASIC ISSUES GUIDANCE ON PRE-HEDGING FOR BROKERS

“Market intermediaries should always carefully consider their obligations under Australian law and applicable international codes and standards when undertaking pre-hedging.”