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scam

5 Ways to Stay Safe from Hurricane Ida Charity and Benefits Scams

Hurricanes and other natural disasters are traumatic. The most recent disaster, hurricane Ida, ripped across the east coast of the United States causing flooding and extensive power outages. Homes and lives have been disrupted and destroyed, and as a result, charitable efforts and requests have increased.

However, not all of these charitable efforts are sincere or actually go to the intended parties. The FBI has warned about charity scams any time there is a major natural disaster and this is also true in the wake of Hurricane Ida. If you realize that you have given money to what turns out to be a charity scam, fund recovery is possible with the right resources and strategy. 

Broker Complaint Registry can help you avoid these charity scams and retrieve funds from fraud. Our experts consult with clients, create intelligence reports, and outline strategies that have a proven track record of success. We have a close working relationship with banks and regulators and can help our clients retrieve their funds from crypto scams, forex scams, and other forms of financial fraud. Talk to BCR  about how to proceed with fund recovery. 

How Charity Scams Work

Charity scams, like legitimate charities, reach out to people for donations. That is where the similarities end. Real charities may have an active social media presence, but they most often do not rely on email or chat spam, cold calling, or other aggressive tactics. The reason behind these sometimes invasive tactics is to catch people off guard and discourage them from waiting or doing the research before giving. 

Charity scammers often will bombard potential targets with emotionally laden details that are meant to generate an instant response. A legitimate charity will talk about the hardships faced by those in need but will spend at least as much time describing in detail how they will provide assistance and will offer ways to check the validity of the request and the organization. Scammers will insist that money must be given right away and will not willingly let communication go without getting a large sum of money. 

Charity scams often pose as legitimate charities and will use names that are remarkably similar to those that are well-known. In some cases, they will actually create a decoy of a real charity website and use the graphic design and logos of another charity in emails. It can be difficult to notice the difference between the real and clone version of a charity. This is the reason why it is important never to click links directly on an email but to enter the email address manually and check the site is secured. 

5 Ways to Avoid Charity Scams

The following are steps suggested to avoid losing money to charity scams: 

  1. Check that the request is coming from a legitimate charity
  2. Research the Charity
  3. Give through a credit card or checks
  4. Do not click on links directly in an email
  5. Do not give out personal information except through a secure website

When you come across a charitable request and want to help those in need it is important to be on the lookout for signs of a charity scam. This means never assuming the people you are communicating with are who they say they are, even if an email looks legitimate and uses a similar logo. 

The first step is to ensure that the charitable request is coming from a legitimate charity. Do not respond to direct requests by email, text, or phone call. They may have found your email or phone number through unauthorized means. Giving your information through any means but a secured website can make you vulnerable to phishing and identity theft. Therefore, avoid pressure or haste, but take some time to investigate the charity before donating. 

Research the charity thoroughly. The Federal Trade Commission’s website has information about charities and can be a guide for your research. Look for complaints and articles on the web about the charity, although keep in mind that not all of these mentions are necessarily authentic. 

Stay aware that you may not be dealing with people who are who they say they are. Cloned emails and websites can be convincing. Therefore, when you get an email, do not download anything or click a link. Instead, note the address and type it in manually in the search box. If this takes you to a secure website that checks out as belonging to the real charity, then it may be safe to proceed. Check from reliable sources the actual address of the website so you can avoid giving money on cloned sites. 

When you feel confident that you are on a genuine, secure website, it is important to use care about how you pay. Charity scams often ask for cash, gift cards, cryptocurrencies, or wire transfers for donations. 

Asking for these payment methods is not proof of a scam, but it can be typical of those who do not want to have to give money back if their practices are called into question. Insist on paying by check or cash, which can make fund recovery easier if the charity does turn out to be a scam. 

If you follow these steps, you are likely to be safe from a crypto scam. However, there is no absolute guarantee that you will not come across a scam. If you have lost money to any kind of fraud, it is important to file a complaint and speak to fund recovery experts, such as Broker Complaint Registry. We consult with our clients and advocate on their behalf to retrieve funds that have been taken by fraud. 

Contact Broker Complaint Registry experts if you need assistance with a forex scam complaint. We deal with a variety of issues, including data theft, forex trading scams, and crypto complaints. Our team will refer you to experts who have vast experience dealing with regulators, banks, and law enforcement. We will provide advice and give you valuable guidance to help you resolve the issue.

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Forex online trading

A Brief Guide to Forex Trading Regulations in the United States

Forex is a high-risk type of trading that is focused on gaming the fluctuations in value between currency pairs. It has somewhat of a tarnished reputation because of the plethora of forex scams, however, there is nothing inherently problematic about forex trading except that it is risky. Forex is the largest financial market and sometimes as much as $6 trillion is traded daily. 

Because of the high risk associated with forex, many people incorrectly think that forex trading is not allowed in the United States. This is not correct; there are regulators that oversee forex services and rules for forex trading in the United States. The problem is that many brokers ignore these regulations, hold no licenses or pretend to have qualifications they don’t have. 

Broker Complaint Registry can help you avoid these forex scams and retrieve funds from fraud. Our experts consult with clients, create intelligence reports and outline strategies that have a proven track record of success. We have a close working relationship with banks and regulators and can help our clients retrieve their funds from crypto scams, forex scams, and other forms of financial fraud. Talk to BCR  about how to proceed with fund recovery. 

The Truth About US Regulation of Forex Services

One of the reasons people believe that forex is not allowed in the United States is that, because of the prevalence of forex scams, US financial regulators took aggressive action against fraud. Since many forex brokers are unlicensed in the first place, the fact that huge numbers of forex services closed their doors may have given the appearance of shutting down the forex market. However, this is not the case. 

Forex is highly volatile because it is so active. A forex trader can lose money unexpectedly when a government or a huge institutional investor divests or buys a certain currency. These losses are not due to fraud, but because of the volatility of the market. Add actual forex scams to the picture, and forex can seem perilous. 

However, forex trading when it is regulated is legitimate. Regulations in the United States, however, are more demanding than in many areas of Europe. That may seem counter-intutitive since the perception is that the U.S. is less heavily regulated than in the E.U. The main piece of legislation that has increased forex regulation Dodd-Frank which was passed in 2012 and provides oversight for financial services in response to the financial crisis. 

The Effect of Dodd-Frank on the U.S. Forex Market

Dodd-Frank and the Wall Street Reform and Protection Act were intended to provide security to traders and avoid the loose regulations that were blamed on the financial crisis of 2008. For forex brokers, Dodd-Frank imposes significant limits on leveraging and hedging, which can reduce losses for traders and decrease the likelihood of manipulation. Dodd-Frank also established a strict taxation policy on returns from trading and significant market capitalization requirements for those who are seeking a brokerage license for forex trading. 

Market capitalization is an important way to protect traders. This is one area in which regulation in the United States differs greatly from in many other countries, including those in Europe. To operate as a forex broker in the United States, the broker must have a license and a $50 million security fund. European forex brokers, however, need only $100,000 to $500,000 in cash reserves. For this reason, many forex brokers try to dodge these regulations and find other locations. 

United States Regulators for Forex Brokers

It is important to ensure that any broker you sign up with has a license. There can be some confusion about which licenses are required for a forex broker. Some of the main licensing bodies in the U.S. include:

  • SEC (Securities and Exchange Commission)
  • CFTC (Commodity Future Trading Commission)
  • NFA (National Future Association)
  • FINRA (Finance Industry Regulatory Authority)

If you notice that a U.S. forex broker does not have a license from the SEC, that does not mean that it is a forex scam. The fact is that the SEC does not regulate forex, because technically, foreign currencies are not securities. The CFTC regulates derivatives which include options, swaps, and futures. The NFA and FINRA are private regulators, and the NFA has dispute resolution services as well as licenses for brokers. 

Choosing a U.S. Based Forex Broker

The reason that there are fewer licensed forex brokers in the United States compared to the rest of the world is that certain requirements, such as market capitalization, are steeper in the U.S. However, it is not worth taking a risk with forex brokers who are trying to get past these regulations and operate anyway. If you want to trade forex in the United States, it may mean that you have fewer registered brokers to choose from, but after all, you only need to choose one. 

Research brokers thoroughly and look not only for licenses but for transparency about who is behind the brokerage, their names, credentials, and contact information. Look for in-depth information about accounts, platforms, spreads, fees, and commissions. 

Research brokers and find one that has a valid and current license to trade forex in your area. It is worth noting that even though a forex broker may have a license, there is no guarantee that you will not have problems with them. If you have lost money on a forex scam and need fund recovery services, contact Broker Complaint Registry right away to improve your chances of getting your money back. 

Contact Broker Complaint Registry experts if you need assistance with a forex scam complaint. We deal with a variety of issues, including data theft, forex trading scams, and crypto complaints. Our team will refer you to experts who have vast experience dealing with regulators, banks, and law enforcement. We will provide advice and give you valuable guidance to help you resolve the issue.

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cryptocurrency

The SEC Calls Crypto Scams “Flavor of the Year.” 5 Ways to Avoid Them.

Cryptocurrencies have been around since Bitcoin was introduced in 2008. Since that time, cryptocurrency has been talked about now and again, but starting in 2020, digital currencies soared in popularity and now have dominated the headlines. Along with this trend is the escalation of crypto scams, to the point where the SEC has called these frauds the “flavor of the year.” 

All types of financial fraud are rising with the increased use of the internet, but crypto scams stand out as a particular threat. One of the reasons is the widespread belief that cryptocurrency can’t be recovered. However, professionals have strategies to assist clients in retrieving their funds from crypto transactions. Broker Complaint Registry plays a central role in the fund recovery space. 

Broker Complaint Registry has the right tools and experience to improve your chances of fund recovery. Our experts consult with clients, create intelligence reports and outline strategies that have a proven track record of success. We have a close working relationships with banks and regulators and can help our clients retrieve their funds from crypto scams, forex scams and other forms of financial fraud. Talk to BCR experts about how to proceed with fund recovery. 

The Problem of CryptoScams

Although there is nothing sweet about fraud, Peter Diskin, assistant regional director at the SEC’s Atlanta office has called crypto scams the “Flavor of the year,” in an interview with Marketwatch. There is a good reason for this observation. Crypto complaints to the SEC between 2020 and 2021 were at 7,000, which is 12 times the amount of the previous year. The average amount of money lost in these crypto scams has also risen to $1,900. 

Diskin expressed the urgency of cracking down on crypto scams, not only because they are more numerous than in the past, but because of the special challenges they provide for fund recovery. Increasingly, money is being diverted from consumers’ U.S. bank accounts to crypto scammers around the world. 

In addition, the blockchain is anonymous and requires a more complex process of matching transactions to individual users. Fund recovery is possible with cryptocurrency, but it is not as straightforward as a credit card chargeback, for example. 

Types of Crypto Scams to Watch Out For

The increase in crypto scams is correlated with the beginning of COVID-19. As people were home and spending more time online, they were looking for new ways to make money, particularly for those who were laid off from their regular jobs due to the pandemic. This was a major driving force for the popularity of cryptocurrency and with it, crypto scams. 

There are many types of crypto scams that target consumers, but among the most common varieties of crypto fraud include:

  1. Fake Initial Coin Offerings (ICOs)
  2. Fraudulent Bitcoin Mining Services
  3. Celebrity Social Media Scams

There are thousands of cryptocurrencies on the market, but most initial coin offerings or ICOs are frauds. According to Investopedia, 80% of ICOs are scams. This is a staggering amount, but there are many ways to avoid these frauds. Researching ICOs carefully and using only regulated ICO platforms are the key to avoid losing money in sham investments. 

Bitcoin mining is a potentially exciting opportunity. Since complicated mathematical operations and huge amounts of energy are required, bitcoin mining is often done by proxy with groups known as “pools” contributing and investing in this project. However, many bitcoin mining sites and apps turn out to be fake. They simply do not work and those who sell them disappear. 

Celebrity endorsements are a valuable marketing tool, but with crypto scams, many of these are fake. In 2020, a teenager hacked many celebrity Twitter accounts and offered fake bitcoin trading deals. Worse yet, some actual celebrities have been caught pushing bitcoin deals without disclosing the fact they are being compensated, which goes against SEC regulations. 

5 Tips for Avoiding Crypto Scams

There is no need to avoid cryptocurrencies entirely. You can hold, trade, and purchase products with crypto currencies if you follow these tips to stay safe.

  • Use only regulated financial services
  • Research services thoroughly
  • Pay through methods other than cryptocurrency
  • Use only secured website
  • Never give away your crypto codes or keys

The best way to avoid losing money to crypto scams is to work only with licensed financial services. It is easy to neglect this step and take a chance with a crypto deal, but more often than not, this can lead to financial losses. The sad truth is that few financial services behave well without significant oversight and regulators provide this oversight. Whether you are looking into a broker or an ICO platform, make sure it has a reliable license. 

Do your research and see who is behind the deal. There should be names and credentials that can be verified through a Google search. Check contact information to see if it is accurate. If you can’t identify who is running the service, that is a sign to stay away. 

Although you may like cryptocurrency, when paying for crypto services, use a credit card. This can make chargebacks convenient if there is a problem. Services that accept only cryptocurrencies are depending on the fact that refunds through bitcoin can be a challenge. 

Also, do not get involved in a deal advertised only through social media. The only place to do financial transactions online is through a secured website. This means not giving your cryptocurrency code and keys to anyone. Many of these crypto scams aim to steal your crypto and disappear. 

If in spite of following these tips you end up losing money in a crypto scam, do not give up.  Contact Broker Complaint Registry experts if you need assistance with a crypto scam complaint. We deal with a variety of issues, including data theft, forex trading scams, and crypto complaints. Our team will refer you to experts who have vast experience dealing with regulators, banks, and law enforcement. We will provide advice and give you valuable guidance to help you resolve the issue.

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cryptocurrency scam

Half of SMBs Targeted by Cybercrime– 7 Ways to Protect Your Business

Nearly everyone is aware of the dangers posed by the internet. We all know someone who has had their social media account hacked or has unauthorized charges on a credit card. Not just individuals, but small and medium-sized businesses are increasingly getting targeted by hackers. It is estimated that 51% of small businesses are hacked and of those, half go out of business within 6 months of the attack. 

These are sobering statistics, but it is important to be aware of the risks. Cyber criminals like to target SMBs or small-to-medium businesses because they can get more money from a company than an individual, and targeting large corporations is difficult because their networks are hard to penetrate. SMBs employees tend to be working at maximum capacity and can be a bit stretched. This leaves gaps in security that hackers can get past. 

Cybercriminals often have several schemes going on at once, including crypto scams and forex trading scams. Identity theft by getting customer data from SMBs can be used for other types of fraud. When this happens, it is important to file a complaint to keep company funds and client information safe. Fund recovery services can be useful for tracking down clients and retrieving the money.

Broker Complaint Registry is the right place to turn when you have lost money as a result of hacking and identity theft. We consult with clients and refer them to experts who can pursue their cases in detail and work to investigate the hackers or the broker, and in many cases, succeed in fund recovery. Talk to us today, and we can provide guidance on how to deal with the claim. 

The Dangers of Hacking to SMBs

Businesses do more than sell products and make money. They have a treasure trove of consumer data. The hackers may be trying to get their hands on company accounts but they are often after customer data. With email addresses, credit card numbers, and bank information they can commit identity theft or spam these customers with forex scams or crypto scams. 

Not only do SMBs face threats of theft, but they may lose the confidence and loyalty of their customers. If customers discover their information has been compromised when a company they do business with has been hacked, they may take their business elsewhere to a competitor that they believe has a higher level of cybersecurity.  Not only will the target company lose funds in the attack, but they could start to bleed customers.

Ways Hackers Attack SMBs

Hackers use several methods of attacking SMBs. The most common are: 

  • Mass emailing
  • Spear phishing
  • Social engineering and Impersonation
  • Calling

Most of us have received emails that look as if they are actually from trusted companies or services, such as Paypal or Microsoft. However, on closer inspection, particularly when looking at the domain of the email, it is clear they are fake. However, a split-second reaction could compromise information and can help attackers install malware on a device. 

These mass emails will claim that an account needs to be verified or that there is a similar problem and will provide a link. Once the recipient clicks on the link, they will instantly install malware on their device. It should be noted that any reputable company will ask a customer to go directly to the secure website to verify or fix an issue with an account. They will also provide more specific information than is often seen in one of these mass emails. 

SMB hacking often is accomplished through spear phishing. This involves contacting specific employees and making requests. A common example of spear phishing is a hacker pretending to be from an IT department asking for access to employee computers. They will use social engineering and impersonate a manager or a technician to gain this access. The hackers may also do this by phone to catch employees off guard. 

7 Ways to Protect Your Company from Hackers

The following are ways to keep your company safe from cybercrime. 

  1. Require installation or upgrade of anti-virus software
  2. All requests for sensitive information or access must be verified
  3. Any special requests for information will be introduced with communication from within the company 
  4. Warn against clicking on links or downloading any materials offered directly on emails
  5. Encourage employees to check the domain name on emails
  6. Require two-step identification
  7. Institute security best practices for your company

Even if hackers managed to get past certain boundaries, they can’t infect your network with malware or spyware if you have the best-upgraded anti-virus software available. Not only should a company have the best cybersecurity tools they can afford but they should ensure all employees upgrade their anti-virus software, especially remote workers. Making a special date and time for this and proof it has been done via screenshots is one of the easiest ways to protect your company. 

Require departments to send out emails letting employees know they will need access or data beforehand. Encourage employees to verify any of these requests by sending an email or calling the department before carrying out any instructions. Employees should be aware of the dangers of clicking on any links directly on emails or downloading documents. They should always check the domain name on the email. 

Two-step verification provides significant protection even in cases where hackers have gotten hold of passwords. Every company should establish a protocol of best practices for cyber-security and require compliance from all employees in all departments. 

Even when one is careful, a company can get hacked. If this occurs, it is important to report the incident immediately and consult with a fund recovery company. Getting your company and client funds back is not a pipe dream, but can be possible with the right professionals. 

Has Your Company Been Targeted by CyberFraud? Broker Complaint Registry Will Help

Contact Broker Complaint Registry experts if you need assistance with a complaint relating to fraud.  We deal with a variety of issues, including data theft, hacking, forex scams, and crypto scams. Our team will refer you to experts who have vast experience dealing with regulators, banks, and law enforcement. We will provide advice and give you valuable guidance to help you resolve the issue.

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cryptocurrency

Think Crypto Scams Can’t Be Traced? Think Again

Crypto scams have increased 1,000% in nine months as of July 2021. This may sound like a hyperbole, but the data is from the Federal Trade Commission. Some people blame the pandemic and economic insecurity on this rise in crypto scams, but many cybercriminals have use these digital currencies because they believe transactions are anonymous.

Although the blockchain records all transactions publicly, they are not linked to names. This has led to a “Wild, Wild West” image connected to cryptocurrencies. People assume that anonymity means a free-for-all and that cryptocurrency transactions can’t be policed. However, these assumptions are incorrect and more crypto scams and fraudsters are being uncovered every day. 

From the 17 year old who hacked Twitter to cheat users of bitcoin to the Colonial Pipeline ransomware attack, law enforcement including the FBI are tracking down these cyber criminals. Presumably, these scammers would not have taken the trouble to mastermind these scams if they thought they would get caught, but law enforcement uncovered their tracks. 

It is important for people who have suffered from crypto scams to not stay silent. They should immediately file a complaint and fight for fund recovery. Those who have been targeted should not allow defeatism to creep in but should realize that in many cases, funds can be recovered. Broker Complaint Registry guide clients to experts who can help them recover from crypto scams. 

Broker Complaint Registry is the right place to turn when you have lost money as a result of crypto scams, forex trading scams, and other forms of fraud. We consult with clients and refer them to experts who can pursue their cases in detail and work to investigate the hackers or the broker, and in many cases, succeed in fund recovery. Talk to us today, and we can provide guidance on how to deal with the claim. 

Catching the Teen Twitter Hacker

From ripping people off on Minecraft at the age of 16, Graham Clark moved on to using social engineering scams to trick Twitter employees into providing him access to devices and then hacking into 100 high-profile accounts, including those belonging to Barack Obama, Bill Gates and Elon Musk.

 From there, Clark launched another social engineering scam that offered users a nebulous deal to double their bitcoin. Instead, he kept their bitcoin and was caught after only a few hours. The Twitter hack was not Clark’s first rodeo, but it was the largest in scale. However, the scam was quashed after just a few hours, and, for all of these efforts, he managed to grab only $118,000 worth of bitcoin from his large-scale hacking. Much of this bitcoin can be returned to owners. 

The mistake Clark made was he apparently felt invincible. He became notorious on Minecraft for peddling fake goods to other gamers and keeping their bitcoin. Clark was also suspected of being involved in another crypto scam that defrauded consumers of $856,000, but he was not charged. 

However, he didn’t realize that authorities knew his name and were on his trail. In addition, Clark and his accomplices were caught with cooperation from Discord, Coinbase, and Twitter when they noticed irregular activity. These platforms do not want to harm their reputation by not acting fast on suspected crypto scams and of course are bound to cooperate with the FBI. 

 Discord presented the FBI with records of chats between the accomplices. Coinbase, which spotted signs of a crypto scam and shut it down from receiving an additional $280,000 in bitcoin handed the bitcoin codes to the FBI and from there they, officials were able to connect the bitcoin to the identity of the hackers. 

This flies in the face of the common view that cryptocurrency can’t be traced. As a result, Graham Clark and his accomplices Mason Shepherd, 19, Nima Fazeli, 22, face 30 felony charges in Flordia. Clark may have gotten away with crypto scams scott-free at one point, but no more. 

Following the Money in the Colonial Pipeline Ransomware Affair

The Colonial Pipeline affair was a ransomware attack that interfered with fuel supplies in the Northeast. It was one of the largest pipelines in the United States and to avoid a fuel crisis, Colonial paid a ransom of $4.4 million in bitcoin or 75 bitcoin to restore service. 

Many people were upset at the payment of this ransom because they believed that the cryptocurrency that was paid out would be impossible to trace. However, the FBI has recovered $2.7 million of the lost bitcoin just weeks after the incident. 

The expression “follow the money” works for tracking down many types of scams, and that includes crypto scams. The authority the FBI holds and improved technology of fund recovery professionals has made it easier to track down cryptocurrency transactions and crypto frauds. 

How Authorities Uncover Crypto Scams

The weight and authority that the FBI and Interpol have enable them to subpoena records from companies. In the case of the Colonial Pipeline ransomware crime, the FBI obtained cryptocurrency records, was able to identify the bitcoin wallet that was involved in the transaction, and requested a court order to gain access to the bitcoin codes. 

In the case of the Twitter hack, the cooperation of Discord, Coinbase, and Twitter with the FBI revealed the identity of Graham Clark and his accomplices. If authorities can track down crypto scams in major frauds such as the Twitter and Colonial Pipeline crimes, fund recovery companies and law enforcement can improve their clients’ chances of getting their money back.

Have You Been the Target of crypto scams? Broker Complaint Registry Will Help

Contact Broker Complaint Registry experts if you need assistance with a complaint relating to scams.  We deal with a variety of issues, including data theft, forex scams, and crypto scams. Our team will refer you to experts who have vast experience dealing with regulators, banks, and law enforcement. We will provide advice and give you valuable guidance to help you resolve the issue.

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Uncategorized

The Twitter Hack and The Role of Social Engineering in Crypto Scams

Twitter users throught that former President Barack Obama, Bill Gates and Elon Musk were offering them an opportunity to double their bitcoin in just a few hours. If they checked the authenticity of the account, they would have discovered that these posts were from the actual celebrity accounts. However, anyone who were involved in this deal lost their bitcoin to the tune of $116,000. 

This Twitter hack occurred in the midst of the pandemic when people were spending more time online and were desperate for ways to make money. The crime was an example of a crypto scam that used social engineering–a sophisticated method of disguising identity and building a false sense of security among potential victims. 

Scammers are finding increasingly sophisticated ways of creating fake identities and stealing money through crypto scams and forex trading scams. Social media platforms such as Twitter are becoming the venues for these frauds. If you have lost money to one of these scams, it is important to report it to authorities and seek the assistance of fund recovery experts. 

Broker Complaint Registry is the right place to turn when you have lost money as a result of hacking and identity theft. We consult with clients and refer them to experts who can pursue their cases in detail and work to investigate the hackers or the broker, and in many cases, succeed in fund recovery. Talk to us today, and we can provide guidance on how to deal with the claim. 

What Are Social Engineering Scams?

Social engineering is a method scammers use to gain access to victims and their accounts. They do this by building a false sense of trust by pretending to be someone the victim already knows, or impersonate someone they admire or claim to represent a government organization.

Social engineering can be more effective than regular hacking. According to traditional hacking, the cybercriminal tries to gain access to a network or a device through indirect methods or by breaking into it through malware or getting a hold of codes and passwords. 

Tech-savvy cybercriminals may manage to hack systems, but software protecting devices and people from malware have become increasingly sophisticated. It is much easier to simply ask the victim for access by pretending they are a technician or from within the company. This is what occurred with the Twitter hack when the hackers claimed they were from the IT department. 

In addition to masquerading as the IT department of a company, hackers use social engineering scams in the following ways: 

  • They may call someone, pretend to be from the IRS or another government agency, and claim that they need verification or access a computer directly for security reasons. 
  • They could be fake brokers who tell clients they need to control their computers so they can help them trade
  • A fraudster could contact someone claiming to be a technician and say they need to log in to their device so they can fix the problem. 

It should be noted that technicians almost never need to access a computer directly. What usually happens is they will ask the person to log in for them and then they will make the repairs without asking for any passwords or login in data. 

The request for this kind of access should always require multiple verifications of the authenticity of the request and the identity of the person. 

How did the Twitter Crypto Scam happen? 

The Twitter crypto scam occurred in two phases. The first was the actual hack or social engineering scam that gave the hackers access to the network and the second was the social media imposter crypto scam that robbed users of over a hundred thousand dollars. 

The cybercriminals pretended to be from Twitter’s IT department and asked Twitter employees to directly access their VPNs. There were many Twitter employees working remotely because of the pandemic and many had unsecured VPNs. When they granted the fake IT people this access, the hackers then stole data about high-profile Twitter accounts. 

With this data, they logged into the Twitter accounts of Barack Obama, Bill Gates, Elon Musk, and other celebrities. They offered users the chance to double their bitcoin in just a few hours. When people gave over their bitcoin for trades, they didn’t receive any money back. Twitter management cracked down on the scam after a few hours. 

Ways to Avoid Social Engineering Scams? 

There are several features in this social media crypto scam that are often seen in other types of fraud. The following are ways you can stay safe from social engineering scams.

  • Be skeptical of requests to access a computer or device directly
  • Verify the person and the authenticity of the request for private information
  • Don’t let them rush you–scammers will try to pressure you to act quickly to keep you from doing research
  • Do not participate on money-making schemes on social media
  • Do not send money through cryptocurrency and only through a secured website
  • Ask for various means of contact. Call the phone number they give you and ask for video calls

Even with these tips, you still may be the target of social engineering frauds, crypto scams, and forex trading scams. If you have been affected by fraud, report the incident to authorities and work with a fund recovery company to help you track down the scammers. Working with experts in the fund recovery process will increase your odds for success. 

Have You Been the Target of Fraud? Broker Complaint Registry Will Help

Contact Broker Complaint Registry experts if you need assistance with a complaint relating to scams.  We deal with a variety of issues, including data theft, forex scams, and crypto scams. Our team will refer you to experts who have vast experience dealing with regulators, banks, and law enforcement. We will provide advice and give you valuable guidance to help you resolve the issue.

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Uncategorized

How to Handle a Broker Dispute

How to Handle a Broker Dispute

More people have been investing and trading than ever before. It is estimated that 50% of people in the U.S. have investments, which is understandable, given how widespread IRAs and 401(k)s are.

Working with brokers can be a challenge, particularly when a dispute arises. Some of these conflicts are disputes with legitimate brokers and others require formal complaints, as in the case of forex trading scams. Deciding what to do in a given situation can be complicated, and that is why it is important to seek counsel.

Broker Complaint Registry is the right place to turn when you have a broker dispute or need an intelligence report in a crypto or forex trading scam. We consult with clients and refer them to experts who can pursue their case in detail and work to investigate the broker, and in many cases, succeed in fund recovery. Talk to us today, and we can provide guidance on how to deal with the claim.

What Are Broker Disputes?

Broker disputes can arise for a multitude of reasons. Here are some common reasons for broker disputes and complaints:

  • Unauthorized transactions
  • Disagreement over fees or procedures
  • Forex withdrawal problems
  • Misrepresentation of Facts
  • Undue pressure to make certain trades
  • Investment and trading decisions not suitable for the client’s stated goals and needs
  • Refusal to allow withdrawals

Some of these issues can arise with both legitimate and scam brokers and others are more characteristic of frauds. It can be difficult to know which you are dealing with when you start trading with a broker, particularly if you are new to trading.

Some people are quick to suspect something may be afoot if they have lost a lot of money on trades. However, in some cases, losses could be due to risky trading vehicles, such as forex, CFDs, or cryptocurrencies. Then again, consistent losses combined with forex withdrawal problems can signal a forex trading scam.

The problems that may be connected with actual fraud include unauthorized transactions that the broker refuses to take responsibility for or resolve, a lack of transparency about fees or procedures, proved misrepresentation of facts, and forex withdrawal problems.

An overly aggressive manner by a broker in encouraging certain trades could be a sign of a pump and dump strategy. It is necessary to take action right away if you feel the broker may be part of a forex trading scam because fraudulent parties tend to disappear with clients’ money quickly.

However, many disagreements with financial services are not related to forex trading scams or fraud of any kind. They may involve a licensed broker who may not agree with a client’s demands. This could be a client’s dispute of a fee the broker feels is justified or an allegation by the client that the broker misrepresented the risk of certain kinds of trading or gave incorrect information.

Whether you are dealing with a dispute with a licensed broker or a broker scam, it is essential to file a complaint with the broker’s regulator, since these controversies are not usually resolved satisfactorily without a third party.

If fraud is proven, law enforcement may have to get involved. Also, seek the services of Broker Complaint Registry with professionals who can guide you step by step through the broker dispute process.

What Are Your Rights as a Client?

It is important to understand that while losses happen, as a client, you have rights. These are guaranteed by first-tier regulators such as the Financial Conduct Authority. Some of these rights include:

  • To request information about the brokerage you are working with
  • To receive an accurate assessment of how risky your investments are
  • To work with a broker who provides advice consistent with financial goals
  • To receive regular statements showing account activity
  • To understand the terms and conditions of transactions, account deposit and withdrawal and all fees, spreads and commissions.

If the broker has violated any of these rights, you as a client have the right to file a complaint with the regulator. The higher the caliber of license your broker has, the higher standard the regulator will hold the broker to, and the more likely you are, in many cases, to win the dispute.

Dealing With Regulators

The procedure involved in broker complaints and disputes demonstrates why it is important to work not only with regulated brokers but with those who have high-tier licenses. Regulators are usually eager to address the needs of clients, but it is important to file your complaint with sufficient information that is formatted correctly and will create the most compelling case.

In addition, the number of complaints about legitimate brokers as well as forex trading scams is increasing steadily and you want to ensure the complaint you are filing with gets the attention it deserves. Professionals who understand what questions regulators ask when they are investigating complaints and what they want to see in a report.

Getting Extra Assistance

You can file a complaint without assistance, but your chances of a favorable result from a broker dispute are much greater working with experts such as Broker Complaint Registry. Would you go to court without a lawyer?

Perhaps you would in the case of small claims court when the amount is relatively small. However, most people invest or trade sufficient amounts with brokers that it is worth working with a team of professionals such as Broker Complaint Registry. We consult with clients and draft intelligence reports that provide a full background and examination of your case. Armed with the facts, you can more likely achieve results in a broker complaint or dispute.

Do You Need Assistance with an Intelligence Report? Broker Complaint Registry Will Help

Contact Broker Complaint Registry experts if you need an intelligence report on a broker or a crypto scam. We deal with a variety of issues, including data theft, broker scams, and crypto complaints. Our team will refer you to experts who have vast experience dealing with regulators, banks, and law enforcement. We will provide advice and give you valuable guidance to help you resolve the issue.

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Make forex trading safer

Make Forex Trading Safer With These 5 Tips

Forex is one of the most active markets in the world with trillions of dollars in foreign currency going through exchanges daily. Large and small investors benefit from the highly liquid form of investment that can generate significant returns in a short amount of time. The downside is the numerous forex scams that have emerged and have taken in eager traders with false claims and fraudulent methods.

There are, however, many ways to stay safe from forex trading scams. It is important to find a dependable broker, to be aware of the risks, and use practice accounts to familiarize yourself with the market. If you have become the target of forex trader scams, it is important to report the problem.

Broker Complaint Registry is the right place to turn when you have a broker dispute or need an intelligence report in a crypto or forex trading scam. We consult with clients and refer them to experts who can pursue their case in detail and work to investigate the broker, and in many cases succeed in fund recovery. Talk to us today, and we can provide guidance on your claim.

What is Forex?

Forex stands for foreign currency and forex trading involves working with differences in values of currency pairs such as USD/EUR. When you change money during a trip, you are doing something akin to what forex traders do. This type of trading can seems to be very simple to understand at first, but it is more complicated than it seems.

What makes forex complex is its volatility. In just a few hours a currency can go from being highly valued to losing a significant chunk of its value when an institutional investor or country dumps its holdings of certain currencies.

Also, a natural disaster or an election can dramatically alter the value of a currency. That is one reason why forex traders prefer day trading because they could go to bed with a highly valued currency and wake up to a huge loss on their trade.

Tips to Make Forex Trading Safe

Since forex is so volatile and many forex trading scams are lurking, it is important to know how to trade forex safely and successfully.

  • Work only with a registered broker
  • Use a practice account
  • Start in small amounts
  • Be careful with leverage
  • Use Stop Loss Protection

Work With a Registered Broker

A solid license may be the most important thing to look for in a broker. One thing that many forex trading scams have in common is that most of them are created by fake brokers who do not have a license or have a third or fourth-tier license.

A license means that a broker has oversight from a regulator and obviously, dishonest parties do not want regulators to see what they are doing.

In addition, first-tier regulators, such as the Financial Conduct Authority have very high standards and do not just accept just any broker. They also carry out regular inspections and require paperwork. Licenses often have to be renewed. In addition, if clients make complaints against a broker and if these complaints are found to be substantive, the broker can face significant penalties.

Ensure that any license your broker has is up to date and is authentic. Double-check this with the regulator–do not take statements on the broker’s website at face value. In addition, research the regulator providing the license to determine whether it is a high-quality license and what their procedure is for handling broker complaints.

Use a Practice Account

Forex may not seem hard to understand, but it is far more intricate and fast-paced than many novice traders imagine. Most reliable brokers offer practice accounts to give traders a chance to pretend to trade forex without the risk of losses. Don’t just practice trades on a game platform, but keep a trade journal to note where you are making wins and losses and what strategies are working.

Don’t be too quick to trade real money. Wait until you have seen some success with mock trades. At the same time, watch webinars and read blogs with advice on forex trading strategies. When you have enough information and experience, you can take the risk of using your own money for trades.

Start Trading Small Amounts

Start small and work your way up sounds like easy advice, but it can be hard to follow. It is easy for new traders to let the excitement carry them away and to jump on trades that seem to be sure things. However, there are no sure things in forex, given the volatility of the market.

Starting with small amounts is not just a good idea because of the uncertainty of the market, but it is also a good way to test how reliable your broker is. First see if your broker will let you withdraw your money without extravagant fees, delays, or excuses. If the withdrawal goes smoothly, you can feel confident trading higher amounts with this broker.

Leverage

Leverage allows you to realize significant gains from a small initial trade. However, it can also lead to huge losses. Practice leverage as well in your mock investments and find a level you are comfortable with.

Use Stop Loss Protection

Not all brokers offer stop-loss protection, but it is worthwhile to work with a broker who does. Stop-loss protection can keep your money safe from significant losses. It involves setting a maximum amount that you are willing to lose and ensuring that trading stops when you have reached that level. It prevents an impulsive desire to regain losses in additional desperation trades, which can lead to even greater losses.

No forex trading is absolutely safe, but if you follow certain tips, you are less likely to experience large losses. Being careful about choosing a broker can also keep you safe from forex trading scams. If you have lost money in a forex scam, talk to Broker Complaint Registry today.

Need to Report a Forex Broker? Broker Complaint Registry Will Help

Contact Broker Complaint Registry experts if you need an intelligence report as the result of a forex trading scam. We deal with a variety of issues, including data theft, broker scams, and crypto complaints. Our team will refer you to experts who have vast experience dealing with regulators, banks, and law enforcement. We will provide advice and give you valuable guidance to help you resolve the issue.

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3 types of crypto scams

3 Types of Cryptoscams and How to Avoid Them

Cryptocurrency has the potential to change the way we think about money. It is not connected to physical money, such as bills or coins, but is entirely digital. Since the pandemic, cryptocurrency has made a comeback and many consumers want to jump on the trend, whether it is to own and use cryptocurrency or trade it.

However, along with its popularity, cryptocurrency enthusiasts are increasingly the target of scams that are designed to rob them. These frauds can take several forms, including crypto forex trading scams, fake ICOs, and fraudulent crypto wallets and apps that can inject malware into devices. Those who fall prey to crypto scams need support and guidance from professionals who will help them prepare a claim and investigate the fraud.

Broker Complaint Registry is the right place to turn when you want to investigate alleged crypto scams or if you have been cheated by a cryptocurrency service or broker. We consult with clients and refer them to experts who can pursue their case in detail and work to investigate the crypto scam and in some cases succeed in recovering funds. Talk to us today, because crypto scams can work quickly to cover their tracks.

What Is Cryptocurrency?

Cryptocurrency is a digital currency that has no physical equivalent and is not regulated by any central bank. All transactions are managed on the blockchain, which uses ledger technology.

Although transactions are recorded, they are anonymous, and this provides advantages and disadvantages. People feel that their anonymous transactions are private and secure, and yet the anonymity can give cover to cybercriminals to make money laundering easier.

Why Have Crypto Scams Increased?

Crypto scams have increased in tandem with the popularity of cryptocurrencies. Popular trends, unfortunately, often attract scams that mimic the real thing. Additionally, growing economic instability is another factor that fuels scams. Fraudsters are looking for consumers who want to make money fast and are willing to take risks to do so.

In addition, many people are more comfortable with making transactions and trading online. It wasn’t long ago that many consumers were nervous about dealing with financial matters online. However, the reality now is that we do everything on the internet, including socializing, working, and earning degrees. The same is true of investing and managing money.

What Are the Types of Crypto scams?

One way to protect against crypto scams is to educate yourself about how these frauds work, who they target, and certain features they have in common. The following are general categories of the most widespread crypto scams.

  • Cryptocurrency Trading Scams
  • Fake ICOs
  • Scam Crypto Wallets or apps

Cryptocurrency trading scams

Cryptocurrency trading scams are similar to forex trading scams. In many cases, nothing is being traded, and the broker keeps the money. However, like forex scams crypto trading scams will go to great lengths to convince their victims that their money is being traded and that they are likely to receive returns. In other cases, there is trading going on, but the broker will refuse to allow the victim to withdraw the money.

One of the most popular forms of crypto broker frauds and forex trading scams is Ponzi schemes. This occurs when the money people invest is used to pay those who withdraw money. As the money is shifted through the system, the fake broker makes money from high commissions and fees. Sometimes the broker will take of the money and disappear so they don’t have to make any payouts at all.

Other crypto brokers seem legitimate, but like forex scams, they will not allow their clients to take their gains. A client may think that they are making money on trades, write positive reviews, and bring their friends on, only to find that the broker will not allow them to withdraw their money, at least not without paying a huge fee.

Another type of crypto fraud is a crypto forex trading scam. This occurs when consumers trade forex or other assets but pay and are paid in cryptocurrencies. This allows the broker to remain anonymous and makes it easier for them to launder money.

Fake ICO Scams

Another major problem is ICO scams. ICO stands for Initial Coin Offerings. With thousands of cryptocurrencies on the market, many new coins are making their debut. However, only a portion of these is legitimate.

You may have seen a new coin advertised on social media or have been messaged by someone promising that getting in on a new coin deal before it hits exchanges can mean huge profits.

Not surprisingly, these ICO scam artists will disappear as soon as you send your money, usually by cryptocurrency. They may make some excuses about technical problems or needing more money, but the anonymity of cryptocurrency allows ICO scams to take the money without showing where it went.

Fake Crypto Wallets and Apps

The third type of crypto scam is fake wallets and apps. When you buy and use cryptocurrency, a wallet or an app can help you keep track of your coins. These apps are sold everywhere, including Google Play or Apple’s App Store.

However, just because these apps are available on main platforms, that doesn’t mean that they aren’t fraudulent. Unfortunately, it is well known that Google Play and the App Store have lax screening concerning the apps they make available.

These fake wallets and apps either do not work or contain malware or spyware that can steal data from the users. Some will get the codes for the bitcoin so they can steal cryptocurrency from users. The result can be a simple rip-off, stealing bitcoin to full identity theft.

Have You Been the Target of a Crypto Scam? Broker Complaint Registry Will Help

Contact Broker Complaint Registry experts if you need an intelligence report on a broker or a crypto service. We deal with a variety of issues, including data theft, broker scams, and crypto complaints. Our team will refer you to experts who have vast experience dealing with regulators, banks, and law enforcement. We will provide advice and give you valuable guidance to help you resolve the issue.

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How crypto reports help

How Crypto Reports Help Unmask Crypto Scams

The number of crypto scams has risen to unprecedented levels. This is partially due to the popularity of digital currencies such as bitcoin and ethereum, but it is also clear that scammers are finding more ways to reach potentially enthusiastic cryptocurrency traders.

With more trades taking place online than ever before, it is more likely that people will fall for crypto scams and forex trading scams. In many cases, legitimate services can be almost indistinguishable from crypto scams.

If you have lost money in a crypto scam, it is important to approach regulators and authorities with a claim. Not doing so will allow cybercriminals the freedom to pursue their fraudulent activities with additional crypto scams or forex trading scams.

One important weapon in the arsenal of combating crypto scams is a crypto complaint or an intelligence report. This provides a thorough account of what happened and investigates the fraudulent party. It can aid authorities in their pursuit of cybercriminals and can yield a favorable result for your claim.

Broker Complaint Registry is the right place to turn when you have a claim in a crypto scam and need an intelligence report or crypto report to help authorities. We consult with clients and refer them to experts who can pursue their case in detail and work to investigate the broker, and in many cases succeed in fund recovery. Talk to us today, and we can provide guidance on how to deal with the claim.

What Is a Crypto Report?

A crypto report is created by the victim of a crypto scam and a third party, such as Broker Complaint Registry. It is intended to make the process of filing a complaint easier and to give regulators and authorities the information they need to pursue your case. Another version of a crypto report is an intelligence report detailing forex trading scams.

A crypto report involves a description of what happened to the client. This is a further elucidation of the situation presented in the client’s initial complaint to authorities or regulators. A crypto report goes into more detail and provides documents to support the statements, such as communications with the broker, website screenshots, and other documents that may be helpful in examining the case.

A crypto report also contains a thorough investigation into the broker or company, including whatever information is known about the background of the people behind the site, legal actions taken against them in the past, identities, other forex trading scams or crypto scams they might have been involved in and additional personas and accounts on the internet.

The detail used in a crypto report depends on what can be found out about the fraudster and the expertise of the people doing the crypto report. Broker Complaint Registry uses advanced tools and techniques to unmask crypto fraudsters online. This can go a long way to helping authorities track down crypto scams.

How Does a Crypto Report Help?

A crypto report can be significantly helpful to authorities who are tracking down crypto scams. Given the huge uptick in cyber fraud, law enforcement and regulators are busy trying to deal with it all. They may feel overwhelmed with the sheer number of complaints that reach them each day.

A crypto report gives authorities the information they need to get started finding crypto scammers and bringing them to justice. That is because the investigation has already been done. Anyone would prefer doing a job that has been half completed rather than starting everything from scratch. This is the benefit a crypto report will provide for your crypto complaint. It also provides evidence that makes your complaint more credible and focused.

What Does a Crypto Report Require?

The first requirement for a crypto report is to find the right company to work with. Broker Complaint Registry has a team from varied professional backgrounds and with combined decades of experience investigating forex trading scams, crypto frauds, and other types of cybercrime.

During your consultation, you should describe in detail your experience with the broker or company. Include even details you are not sure are relevant because even small clues can help unmask the crypto scam. Include documents such as communications by email or text and screenshots of the website. Take your time and ensure you have all of the information you need to provide an in-depth view of the situation.

When Do You Need a Crypto Report?

A crypto report is useful to bolster a complaint against a crypto company or broker. The following are behaviors that justify a complaint and a report:

  • Unauthorized transactions
  • Won’t allow withdrawal from an account
  • You have been locked out of your account
  • Lack of communication
  • Refusal to comply with guarantees
  • Sold a defective product
  • The suspicion that you have been phished or robbed of your data

There may be other activities that may justify a complaint, but these are the common issues. You may simply have a dispute with a company or broker in which they say they have provided goods or services and you disagree. In this case, you will need a crypto report that will help make your case. In the case of a crypto scam broker who has disappeared, the crypto report can help authorities track them down

You may suspect a crypto scam of infecting your device with malware or spyware. To make this case, you will need a detailed crypto report which is drawn up by seasoned professionals. Broker Complaint Registry deals with a range of issues from identity theft to fake platforms and fund recovery.

Do You Need Assistance with a Crypto Report? Broker Complaint Registry Will Help

Contact Broker Complaint Registry experts if you need an intelligence report on a broker or a crypto scam. We deal with a variety of issues, including data theft, broker scams, and crypto complaints. Our team will refer you to experts who have vast experience dealing with regulators, banks, and law enforcement. We will provide advice and give you valuable guidance to help you resolve the issue.