Sophisticated scams on the rise: Australians lose record AU$1.5 billion to investment scams in 2022 LeapRate

April 17, 2023 BY Steffy Bogdanova

Sophisticated scams on the rise: Australians lose record AU$1.5 billion to investment scams in 2022

She said: As scammers become increasingly sophisticated in their tactics, it is clear a coordinated response across government, law enforcement, and the private sector is essential to combat scams more effectively. The number of scam reports received by Scamwatch reduced by 16.5% last year to 239,237, while the financial losses increased by 76% to over…

February 03, 2023 BY Steffy Bogdanova

FCA asked firms to amend or take down 8.5K adds in 2022

FCA highlighted that t has made improvements to the digital tools it uses to detect problem firms and problematic advertisements, allowing the regulator to work on a larger amount of cases compared with 2021. ‘Fin-fluencers’ were pointed out as a growing concern as the regulator warned that unauthorized individuals should not give advice on certain…

July 04, 2022 BY Steffy Bogdanova

Australians lost over $2 billion to scams last year

Out of the total number, investment scams accounted for the highest loss with $701 million in 2021, followed by payment redirection scams and romance scams which with losses of $227 million and $142 million, respectively. The increasing popularity of cryptocurrency has contributed to the growing amount of investment scams, according to the report. The ACCC…

December 21, 2021 BY Steffy Bogdanova

AMF warns against investment companies operating without authorisation

Since the beginning of the year, the French watchdog has added 25 websites to its list of unauthorised entities. This renumber represents a significant fall compared to the 78 websites the regulator warned against in 2020. AMF’s black list was created in 2017 and since then 361 unauthorised internet addresses were added with illegal offerings…

May 23, 2019 BY Mariela Naydenova

Cryptocurrency scams total £27 million in the UK

Cryptocurrency scams and theft are undeniably two of the largest and most serious problems in the crypto space. Security issues arise almost every month now. The latest “casualty” was Binance, through which hackers stole $40 million in digital coins. The stolen amount was equivalent to around 7,000 Bitcoins at that time. Hackers stole API tokens…

September 21, 2015 BY Maria Nikolova

Russian parliament to examine two bills on financial pyramids

Both bills envisage tougher penalties for those who organize, advertise and attract investors to financial pyramids.

Tag: scams