Posts Tagged ‘unregulated investment’
When Cryptocurrency Goes Wrong: Netflix Investigates
Netflix’s newest true-crime offering is a cautionary tale about the world of cryptocurrency investments. Trust No One: The Hunt for the Crypto King follows the rise and fall of Gerald Cotten, founder of the QuadrigaCX cryptocurrency exchange. The result is a gripping documentary that attempts to trace the $150million (around £115m) investors lost following Cotton’s…
Read MoreSister and brother charged with £100m crypto scam
Earlier this month, US authorities exposed another reason why you should be cautious of crypto-opportunities following the arrest of two siblings charged with of using a crypto scam to defraud investors out of $124 million (around £95m). Although we have recently posted several blogs on crypto scams, this story deserves coverage for two reasons: Between…
Read MoreFCA targets unregulated investment scammers
The Financial Conduct Authority (FCA), which regulates financial companies providing services to consumers, announced plans to increase preventative action against potential consumer scammers. Apparently, the FCA stopped one in every four bogus companies from entering the market in 2021. The figure had been one in five in 2020. While these statistics are reassuring, punishing unregulated…
Read MoreHow to avoid social media scams
An increasing number of people are being duped into investing in social media scams. According to the US-based Federal Trade Commission, social media was “…far more profitable to scammers in 2021 than any other method of reaching people.” When you think about it, social media is a scammer’s dream. They have access to the same…
Read MoreTop 7 cryptocurrency scams
Cryptocurrency is a new and fast-moving sector, which is probably why it hasn’t been covered in previous posts. After all, where does one start? Luckily, this question was answered last week after we found evidence of people being duped into handing over large sums. Unsurprisingly, the swiftly-expanding nature and popularity of cryptocurrencies have led to…
Read MoreSwindlers and the power of persuasion
Several posts have referenced convicted fraudster Elizabeth Holmes recently because the Theranos scandal is a good example of how the power of persuasion can lead to innocent investors losing substantial amounts. Many of those who invested in Theranos were shrewd and experienced. And yet, they were completely unaware of the fraud taking place under their…
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