Category: Financial Services

UN report says North Korea laundered $2 billion theft via Hong Kong firm
December 14, 2018 BY Valentina Kirilova

Belgium regulator FSMA warns against Saga Nagoya Securities

The Financial Services and Markets Authority (FSMA) has just issued a warning against the irregular activities of Saga Nagoya Securities. Saga Nagoya Securities Addresses: 40F Midtown Tower, 9 Chome-7-1 Akasaka, Minato, Tokyo, Japan 56F Shanghai Tower, 501, Yincheng Middle Road, Pudong, Xinqu, Shanghai Shi, China Website: www.snscredit.com Email: [email protected]; [email protected] Tel.: +81 3 4578 8350…

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FCA publishes new rules on handling complaints about APP fraud
December 14, 2018 BY Valentina Kirilova

FCA publishes new rules on handling complaints about APP fraud

Last month, the Financial Conduct Authority (FCA) has contributed to the Payment Systems Regulator (PSR) paper on Authorised Push Payment Scams. Following a super-complaint by Which?, the consumer watchdog, the regulators found that receiving PSPs could do more to identify fraudulent incoming payments and prevent accounts from being compromised by fraudsters. The FCA has today published new rules allowing…

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fca fine
December 14, 2018 BY Valentina Kirilova

UK investment professional Angela Burns fined £20.000 by the FCA

UK financial regulator Financial Conduct Authority (FCA) has just announced that it has fined the UK investment professional Angela Burns £20,000. The regulator has also banned her from acting as a non-executive director. The official and complete FCA announcement can be seen below: The Financial Conduct authority (FCA) has banned Angela Burns from acting as a non-executive director (NED)…

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European Commission adopts new rules to increase transparency in securities financing markets
December 13, 2018 BY Valentina Kirilova

European Commission adopts new rules to increase transparency in securities financing markets

In an important step towards increasing the transparency of securities financing markets, the European Commission announced earlier today that it has adopted a package new measures under the Securities Financing Transactions Regulation (SFTR). The SFTR requires all securities financing transactions to be reported to a central database called "trade repository". The delegated and implementing acts…

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clone firm FCA warning
December 13, 2018 BY Valentina Kirilova

FCA warns against Insight Managed Funds clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Insight Managed Funds. 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…

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fma warning
December 13, 2018 BY Valentina Kirilova

New Zealand FMA warns against Bitcoin Revolution Limited

The Financial Markets Authority (FMA) has just issued a public warning against a scam company called Bitcoin Revolution Limited. Bitcoin Revolution Limited Associated entity: Bitcoin Wealth Website: www.bitcoinrevolutionapp.com; www.pro-net-system.com According to the regulator, this company could be involved in a scam. Articles posted on social media about The New Zealand Treasury and/or current or former…

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December 13, 2018 BY Valentina Kirilova

AriseBank's former execs pay $2.7 million to settle ICO scam charges

The Securities and Exchange Commission (SEC) has announced that the federal court has fined AriseBank’s two former execs nearly $2.7 million. Former CEO Jared Rice Sr. and then-COO Stanley Ford were accused of offering and selling unregistered investments in their purported “AriseCoin” cryptocurrency. The allegedly fraudulent initial coin offering (ICO) scheme was stopped by the SEC earlier…

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bscs warning
December 13, 2018 BY Valentina Kirilova

New Zealand FMA warns against Ideal Services Direct Contact

The Financial Markets Authority (FMA) has just issued a public warning against a scam company called Ideal Services Direct Contact. Ideal Services Direct Contact Address: Sanno Park Tower, 2-11-1 Nagatacho, Chiyoda-ku, Tokyo 100-0014 Website: www.ideal-servicesdc.com Phone: +1 646 3782 801 Email: [email protected] According to the regulator, this company could be involved in a scam. New…

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fca warning
December 13, 2018 BY Valentina Kirilova

FCA warns against Westerman Consultancy Ltd

UK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against the company Westerman Consultancy Ltd. Westerman Consultancy Ltd is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

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