Don’t Lose Twice: BaFin Warns Against Follow-Up Scams

[kreslik.news]

The Federal Financial Supervisory Authority (BaFin), an independent German regulatory institution, today warned investors against companies or persons that approach victims of binary options fraud claiming that, for a fee, they can help them recover the sums invested or the losses incurred on unlawfully operating trading platforms. The German watchdog also red-flagged the activities of RichmondFG, a company that appears to be offering forex and CFDs in Germany without complying with its financial legislation.

The alert notes that scam artists buy and sell lists of previous victims so that they can call them promising to recover the money that ... (read more)