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FTC Cracks Down on Warrior Trading For False Investment Promises

Cryptocurrencies are certainly being taken more seriously by authorities but according to Byrne, asset managers would be in a tough situation. “The desire for cryptocurrency is skyrocketing. We’re to see a lot of progress in crypto goods, but not so much in making investments in companies. It’s quite sluggish.”

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Cryptocurrency Funds Have a Long Way To Go Before They Obtain Regulatory Approval

The Financial institutions in Virtual currency Legislation (MiCA), the EU’s effort to introduce the virtual currency universe inconsistent with previous investment legislation, such as MiFID II, that also encompasses a broad range of foundations in conventional stock markets, as well as larger market misuse and proxy statement rules and regs, is perhaps the most major development presently. It is crucial to clarify, nevertheless, that the legislation only pertains to crypto asset producers and mortgage lenders, not to investments in them. While MiCA would not prohibit crypto investments, those funds may be liable to deposit insurance duties, according to Byrne. MiCA is also not expected to take operation until about the year 2023 or 2024.

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Federal Trade Commission Cracks Down on Warrior Trading For Misleading Consumers With False Investment Promises

Warrior Trading was penalized $3 million mostly by The Federal Trade Commission (FTC) for conducting “misrepresentative” daily trading programs. Warrior Trading, situated in Great Barrington, Massachusetts, presented “misrepresentative and unachievable statements” to prospective day trading clients, according to the US authorities on April 19. Warrior Trading and its CEO Ross Cameron are accused of “convincing consumers to spend huge amounts of money for an investment strategy that eventually stopped paying off by most clients,” per the FTC (.PDF). Investing tactics were offered to customers via online programs, eBooks, a member-only real-time chat network, and “expert workshops.” Social networking sites such as Facebook, YouTube, and Instagram were used for advertising the programs.

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Accounts Deceivable: Email Scam is The Costliest Type of Cybercrime This Year

(Business Email Compromise) BEC frauds are a sort of attack in which thieves break into personal emails, impersonate somebody they aren’t and trick people into transferring cash to places it doesn’t correspond. BEC scams may affect almost any business, from Fortune 500 businesses to tiny communities. According to court filings, the US State Department was fooled into paying BEC criminals more than USD200,000 in funding cash intended to benefit Tunisian agricultural workers. “The fraudsters are well organized, but law enforcement is not,” the director of a San Francisco non-profit that was previously victimized by a BEC scam, said. Per a recent FBI estimate, damage in the United States due to BEC schemes in 2021 totaled approximately USD2.4 billion.

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Don’t Take Calls From These Two Number as, Warns SBI on New Banking Scam

There seems to be a spike in the rates of incidents of fraudulent activity. The Reserve Bank of India (RBI) registered 4,071 incidents between April and September the year before. Importantly, con artists have begun to devise novel tactics for duping naïve consumers and defrauding them of their precious money. In addition to the Twitter alert, SBI has written a message to its clients requesting them to notify them of any suspected attacks. According to the email, people who get any of these phishing emails should contact the bank at [email protected]

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Acta Loans Blacklisted for Conducting Loan Scams

Personal loans can be highly beneficial if you need to cover an unexpected expense. You must, however, assure that you are working with a legitimate lender and not a con artist looking to take advantage of your circumstances. If a lender approaches you first, does not demand a credit check, or makes an offer that appears too good to be true, you may be the victim of a personal loan scam. Scammers can be challenging to spot, whether they’re after your money, your identity, or both. Similarly, Acta Loans recently got blacklisted. Read this article to find out why Acta Loans got blacklisted and if there were any loopholes.

TD Bank, Chinatown,DC

What Does TD Bank Have To Say About It’s Ongoing Scam Speculation & Recommendations To Secure The Bank

Although, according to the TD bank fraud investigations, TD bank takes responsibility for helping protect its consumers’ personal information and adheres to standards set by the industry to identify fraud and aid in its prevention, you should remember at all times that scammers can use the same tricks on repeat, so to stay a step ahead of scammers and avoid scams in the future, feel free to check out Funds Trace blogs, articles, and other resource materials on all types of scams.

Aidvantage

Stay Clear From Dangerous Blacklisted Companies Like Aidvantage That Have Been Stealing Millions From Students

There is still a lot that we aren’t aware of when it comes to Aidvantage and their scam victims; however, to avoid scams like Aidvantage student loan scams, beware of companies that approach you or appear in your search engine ads. Even if you receive a letter or a call from a person claiming to be knowledgeable about your student loan information, such as how much you owe, it could be a scam. Borrowers will be well-positioned to manage any changes by being informed of any updates, keeping an eye out for, and reporting scammers.