The Financial Conduct Authority (FCA) has issued a warning about online investment scams and the emergence of fraudsters offering investments in cryptocurrencies, such as Bitcoin, through social media.
The regulatory body is calling for the public to be vigilant about scammers offering various investments - including binary options, contracts for difference (CFDs) and forex - through Facebook, Instagram and Twitter with the promise of high returns and luxury gifts as inducements. Once enticed, investors are often then trapped with prices distorted on scammers' websites, extreme pay-out clauses and the closure of customer accounts without money being paid back, the regulator added. FCA urges public to help highlight investment scam attempts Binary options, which allow investors to...
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