Re: £27 Million Lost to Forex and Cryptocurrency Scams, British Regulatory Agency Cries Out
Posted: Fri Jun 21, 2019 2:20 pm
With this ruling, the court has sided with the tax authority, thus cementing the definition of what a currency is, according to the central bank.
gurumaster wrote: ↑Sat May 25, 2019 4:50 pmThe British regulatory agency is coming up with a new initiative aimed at combating fraud on social media – it is called ScamSmart.
The Financial Conduct Authority has raised an alarm that the sum of £27 million has been lost to the activities of scammers on foreign exchange and cryptocurrency platforms. This hefty loss was for the 2018/2019 fiscal year alone. The government regulator also revealed that a total of 1,834 scam alerts were sent in last year. That was a shocking 400% rise in the spate of scams compared with the previous fiscal year.