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Regulator names 12 fraudulent online trading companies that most often target Russian investors
Russia’s Federal Financial Monitoring Service has published a warning on its website about a number of foreign entities that illegally offer online trading services to Russian investors. These entities, according to the regulator, abuse the insufficient knowledge of Russians about the securities market regulation, and solicit investments into activities such as Forex trading. Typically, the fraudsters create a facade that the deposit of investors are increasing thanks to gains and demand additional investments. Then, any attempt by the clients to withdraw their money, the balance suddenly becomes “zero” and the ... (full story)