UK FRAUDSTERS ADMIT TO USING BINARY OPTION INVESTMENT SCAMS
June 1st, 2016
CONVICTED fraudsters have told the UK’s National Fraud Intelligence Bureau (NFIB) that ‘binary’ options – betting on commodities going up or down – are being used for investment scams, the agency has claimed. While there are legitimate binary traders, fraudsters can slip through the regulatory net as binary options are regulated by the Gambling Commission, not the Financial Conduct Authority (FCA), and then only if UK based. City of London Police Commander Chris Greany, who is the UK’s National Coordinator for Economic Crime, said: “Investments ...
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