Financial

Fraudsters offering investments in binary options, contracts for difference (CFDs), forex and cryptocurrencies (such as Bitcoin) often promote themselves online and via social media channels, such as Facebook, Instagram and Twitter.

https://actionfraud.police.uk/news/investors-lose-over-87k-a-day-to-binary-options-fraud-jan18

People are being warned to watch out for investment fraudsters approaching them online and via social media.

https://uk.finance.yahoo.com/news/investment-fraud-warning-issued-financial-000100288.html

Fraudsters claiming to be from the Ombudsman are cold-calling victims and telling them they have a cheque for a large amount of money from a compensation claim.

https://www.actionfraud.police.uk/news/fraudsters-pose-as-financial-ombudsman-service-staff-with-fake-compensation-feb18

Bitcoin’s popularity and the emergence of about 1,500 other digital coins or tokens have drawn more hackers into the red-hot cryptocurrency space, expanding opportunities for crime and fraud, cybersecurity firm Digital Shadows warned in a report

https://uk.reuters.com/article/us-cryptocurrency-cybercrime/cybercriminals-target-booming-cryptocurrencies-report-idUKKBN1FL5Q7

Social network blocks initial coin offering ads as they are ‘frequently associated with misleading or deceptive promotional practices’

https://www.theguardian.com/technology/2018/jan/31/facebook-bans-ads-cryptocurrencies-scams

The FCA has said investors are now being targeted by fraudsters on Facebook, Instagram and Twitter, more than they are over the phone, tempting people to put cash into cryptocurrencies and other financial products such as binary options, contracts for difference and forex.

http://www.cityam.com/279571/fcas-issued-fresh-warning-bitcoin-crytocurrency-and-binary

Litigation funder Therium is to contribute £1.5m to Noel Edmonds' £60m claim against Lloyds Bank relating to the fraud that took place at Halifax Bank of Scotland (HBOS).

https://www.theguardian.com/culture/2018/jan/31/noel-edmonds-secures-funding-to-pursue-60m-lloyds-claim

In its latest report, the government re-launched its ‘Flag it Up’ campaign to raise awareness of how industry can help stamp out criminality and illegal practices.

http://www.lpportal.eu/content/editorial/articles/retail-environment/uk-government-raises-awareness-signs-money-laundering/

A Ponzi scheme is one of the oldest forms of fraud, and continues to be rampantly active today.

http://www.bobsguide.com/guide/news/2018/Jan/23/protecting-from-ponzi-tips-for-detecting-shady-schemes/

Speech by Robin Jones, Head of Technology, Resilience & Cyber at the FCA, delivered to the PIMFA Financial Crime Conference, London.

https://www.fca.org.uk/news/speeches/building-cyber-resilience