RM4.8 Million Gigamax Scandal: Investors Still Waiting for Answers
Questions are growing over the lack of updates from police after the arrest of three people believed to be behind the Gigamax investment scam. The arrests, which took place at Kuala Lumpur International Airport (KLIA) on 6 May, have raised hopes among victims but silence from the authorities has led to fresh concern.
International Operation Shuts Down €3M Fake Trading Platform
A coordinated international operation has shut down a fake trading scam, preventing further fraud after defrauding victims of €3M across five countries.
BaFin Issues Series of Warnings Against Unlicensed Financial Websites Exploiting German Consumers
Germany’s Federal Financial Supervisory Authority (BaFin) has issued a series of public warnings on May 14, 2025, targeting at least five unlicensed financial websites that are allegedly offering unauthorized services to German consumers. These include dvagk.de, valuewanderer.com, quinvexcaptial.com, market-z.com, and europrofitspro.com.
Judge Reviews Sanctions Against CFTC in My Forex Funds Fraud Case
A New Jersey judge reviews sanctions against the CFTC after a special master accused the agency of bad faith in its fraud case against My Forex Funds and CEO Kazmi.
RM80 Million in Losses After ‘Islamic’ Scheme Falls Apart
A group of 232 investors is urging Malaysian authorities to launch a comprehensive investigation into an Islamic investment scheme that reportedly incurred losses exceeding RM80 million. The scheme, marketed under the guise of Islamic Redeemable Preference Shares (IRPS), is now under scrutiny for alleged misrepresentation and regulatory breaches.
PJT Academy Scam: RM459,000 Lost to a Fake Trading Group
A 73-year-old retiree in Johor Bahru lost RM459,000 to an online investment scam operated by a group calling itself PJT Academy. The group claimed to teach members how to trade stocks using an app called 'USMSG', promising returns of up to 200%.
Global Traders Sound Alarm Over Dollars Markets' Shady Practices
This article exposes the alarming experiences of global traders with Dollars Markets, a low-rated and blacklisted broker, highlighting serious issues such as withdrawal delays, suspicious payment methods, and possible links to illegal online gambling.
Meta Cracks Down on Scam Networks Targeting Brazil and India
Meta removes over 23,000 scam accounts, using deepfakes and fake investment apps to defraud users in Brazil and India. Learn how to protect yourself from scams.
COINEXX Exposed for Blocking Trader's Withdrawal Request
In online trading, choosing a reliable broker is one of the most important decisions a trader can make
Who Are the Cybercriminals Behind the Darcula Phishing Network?
Norwegian researchers uncover Darcula, a phishing-as-a-service operation with 884,000 stolen cards, linking scammers to luxury goods and global crime rings.
Beware of POSB Phishing Scams: $172,000 Lost! Protect Yourself Now
Over $172,000 lost in POSB phishing scams since April. Learn how to protect yourself from banking fraud with these crucial safety tips.
Beware of Rising Online Scams in the Philippines: A Growing Threat
Online scams in the Philippines are escalating, with text and call-based fraud targeting millions. Learn about the impact and how to protect yourself from cybercrimes.
Regulators Uncover $1.2 Billion Fraud Linked to IM Academy
A global investment training company operating under multiple brand identities has come under intense legal scrutiny after being accused of defrauding consumers of over $1 billion. The Federal Trade Commission (FTC) and the state of Nevada jointly filed a lawsuit on Thursday, alleging the company used deceptive tactics and exaggerated income claims to lure thousands of individuals into its schemes.
U.S. Treasury Targets Cambodia’s Huione Group for Cybercrime Money Laundering
U.S. Treasury targets Huione Group for laundering $4B in cybercrime funds, including North Korea’s Lazarus Group scams, to disrupt global illicit finance networks.
Italy’s Consob Blocks Four Crypto Platforms for Unauthorized Services
Italy’s Consob has ordered the blackout of four unauthorized crypto service websites—Egplus.vip, Egalite.bond, Arbismart.com, and Blockbyteq.top—to combat illegal financial activity.
The Golden Trap: How Gold Scams Soar with Gold's Bullish Momentum
In recent years, gold has been on a remarkable bullish streak, prompting investors to flock to the precious metal as a hedge against inflation and global uncertainty. While gold's upward momentum has been beneficial for many, it has also triggered a concerning rise in scams targeting unsuspecting investors. As the value of gold continues to surge, so too do the schemes designed to exploit those eager to capitalise on its appeal.
EVR Investment Academy Duped a Retiree Out of RM586,450
A 50-year-old Malaysian retiree has lost RM586,450 to EVR Investment Academy, which operates as a fake investment ‘academy’ that promises high returns through a non-existent trading platform.
FCA Shuts Down Direct Trading Technologies Over Fraud Concerns
FCA revokes DTT's UK license over falsified audit records and poor financial controls. Firm must return client funds and cease all regulated services.
FTC and Nevada Target $1.2 Billion Investment Scam | IML Exposed
FTC and Nevada crack down on IML scam, exposing false earnings claims and deceptive multi-level marketing tactics that stole over $1.2 billion from consumers.
SEC Charges Dallas Trio in $91M Ponzi Scheme Defrauding Investors
The SEC charges Kenneth W. Alexander, Robert D. Welsh, and Caedrynn E. Conner for running a $91M Ponzi scheme, promising false returns and misappropriating funds.
