The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Florence Garret. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as part of their tactics to…
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The Australian regulator ASIC informed that it has removed additional license conditions imposed on Morgans Financial Limited back in 2016. In November 2016, ASIC and Morgans Financial Limited agreed for an independent compliance consultant to monitor, evaluate and report on Morgan’s implementation of recommendations arising from an independent review of its compliance measures. The conditions…
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International financial services company Admiral Markets AS just announced that it has made an investment of €150,000 in the Estonian fintech company Bankish. Admiral Markets has already made the first step in fintech, investing in crowdfunding platform Fundwise back in October 2018. Sergei Bogatenkov, Chairman of the Management Board of Admiral Markets AS, commented: This partnership…
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With all of the press hoopla surrounding JPMorgan and Jamie Dimon’s support of a “JPMCoin” project, analysts that follow the banking sector have been wondering where was the major competitor of JPMorgan, i.e., Citibank, positioning itself in the world of crypto innovation of the banking sector. Citibank has a reputation of being an innovator and…
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The meltdown in crypto valuations and the pullback in investor trading volumes, euphemistically referred to as Crypto Winter, continue to wreak havoc in every sector of the crypto community. The news today is that Bithumb, the largest crypto exchange in South Korea, has announced that it will cut back its staff from 310 employees down…
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Numerai is an American prediction market company and hedge fund that recently raised $11 million in an ICO so it can launch the Erasure project. The information comes from the company itself. What Numerai does is “… incentivizing the construction of an artificial intelligence hedge fund with Numeraire, a cryptographic token on the Ethereum blockchain.”…
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AriseBank is a cryptocurrency bank that found itself amidst a $4.2 million ICO scam. The former CEO of the institution pleaded guilty to deceiving investors of around $4.2 million. The information comes from the US news agency Dallas News. Jared Rice Sr. is essentially the founder of AriseBank. What the founder admitted in federal court…
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Germany intends to pass laws for the creation of a government-owned fund that would protect vital German companies from being acquired by foreign companies (especially Chinese ones), by end of 2019, according to Reuters. This is a major departure from the government’s “laid-back” approach towards business. Peter Altmaier, the Economy Minister first suggested the creation…
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Backpack, a comprehensive SaaS back office solution, today officially launched Backpack Pay, a smart payments software for accepting payments. The new product was developed in conjunction with Praxis Cashier Systems Ltd, a payments software solutions providers serving fintech companies. Backpack is known as a comprehensive SaaS platform for back office operations and offers a portfolio…
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UK online trading leader IG Group Holdings plc (LON:IGG) just released an update regarding the Group’s revenues for the three months ending 28 February 2019 - the company’s third quarter of fiscal year 2019 (Q3 FY19). Revenue for Q3 fiscal 2019 This was the second quarter in which the new ESMA regulations prohibiting the sale…
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