Author: Rebecca Sachs
Hailing from a medical family, Rebecca broke the mould by pursuing a career in corporate finance law, attaining one of the highest final scores at the University of Westminster. Rebecca is close with her two sisters, one of whom is a qualified psychiatrist while the other is studying for a career in psychotherapy. The interest in the mind clearly runs in the family and Rebecca uses her own curiosity in this area when investigating and trying to counteract financial fraud, intrigued by the thought processes of both scammers and victims alike. Perhaps this is why Rebecca's greatest interest lies in Ponzi schemes and the mentality behind them. Being keen to broaden her experience in the field, Rebecca began as an avid reader of ForexFraud.com and only recently joined our team of writers after following and then striking up a friendship with one of our other contributors, Karen Miller. Much of Rebecca's free time is spent with her son and husband in their Hertfordshire home. They enjoy walks along the river and hope to add a dog to their family soon. Rebecca's husband is a professional writer and it was his encouragement that pushed Rebecca to try her hand at sharing her expertise, and apparently stresses that we have him to thank for our most recent addition to the team.
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Alleged cryptocurrency trading scammers ask court for more time
By Rebecca Sachs
A group of defendants who stand accused of carrying out a virtual currency fraud by making false claims about their product's value have asked a US court for more time. Those behind the My Big Coin (or MBC) scheme have asked the court for several additional months to respond to the Commodity Futures Trading Commission's …
Cryptocurrency trading bots are manipulating prices, says US paper
Pieces of automated trading software are responsible for the manipulation of prices on some cryptocurrency exchanges, an investigation by a US newspaper has found. In an article published Tuesday, the Wall Street Journal said that the relatively unregulated nature of the crypto landscape means that bots can largely get away with all sorts of behaviours. …
Alleged forex scammers served charges in USA
Two people accused of committing large-scale foreign exchange fraud have been charged by a major US regulator. The Commodity Futures Trading Commission, which is responsible for regulating options and futures, has accused the two people of carrying out fraudulent business transactions as well as misinforming members of the public about margin-based currency contracts. The first …
Google changes its rules on crypto ads
Published: September, 2018.
Major global search engine Google has announced a relaxation of its rules on cryptocurrency adverts. From next month, adverts which pertain to well-regulated cryptocurrency exchanges in two big economies, Japan and the US, will be allowed. This represents a marked change in position for the search engine, which handles over three billion searches every single …
Leading Macau business figure arrested in cryptocurrency fraud
A prominent Macau businessman has been arrested over suspected cryptocurrency fraud. Frederico dos Santos Rosário, who set up the company Grow uP eSports, was arrested at an unknown point. He was released on bail yesterday for 50,000 MOP (Macanese pataca). Dos Santos Rosário is believed to have approached police himself in the first instance on …
SEC: Crypto firms shouldn't forget their responsibilities
A senior figure in one of the US' leading regulatory bodies has reminded firms which own crypto-related assets that they still have to fulfil their legal responsibilities. Wesley Bricker, who is the Chief Accountant at the major US regulator the Securities and Exchange Commission (or the SEC), was speaking at the National Conference on Banks …
FCA warns about cloned firm Bradshaw Asset Management
The Financial Conduct Authority (FCA) has warned about a cloned financial firm whose name is being used by fraudsters. Bradshaw Asset Management is one of a number of firms that are authorised by the FCA but has been cloned in an effort to convince the public that they are dealing with a genuine and honest …
Data privacy not security is key concern
A global survey of professionals in the financial services sector found that security is currently not their main concern. Senior technologists and market data managers took part in the new research by Thomson Reuters, the Financial & Risk business and information specialists. With financial sector operators increasing their use of public cloud systems to manage …
Research reveals cryptocurrency ATM malware selling for tens of thousands
Malware designed to tamper with cryptocurrency ATMs is available to pick up for $25,000, a report published by a cybersecurity firm has found. The report, from Trend Micro, found that malware designed to edit the code which powers the ATM has already received a hundred reviews purporting to be from customers. The malicious software also …
Four Indian people arrested over claims of forex scam
Published: August, 2018.
Four men from India have been arrested as part of a crackdown against foreign exchange fraud by Indian law enforcement officials. The men, who come from major areas like Gujarat and Bengaluru, stand accused of scamming investors out of more than INR 47,000,000, which is equivalent to over USD $67,000 or GBP £52,000. They were …