The City of London Police, along with representatives of the Financial Conduct Authority and the HM Revenue & Customs (HMRC) have “visited” the offices of 20 binary options brokerages in the City this week, the police said. The inspection was prompted by data of the Action Fraud cybercrime unit that in the first six months of 2017 Brits have reported losses of over GBP 18 million to various binary options fraud. On average the loss of a single person amounted to GBP 22 811. The total losses to various online scams since 2012 have amounted to GBP 59 million. Most likely the losses are much greater, as the statistics is based just on the reported cases. The action of the government agencies mostly focused on compliance and document gathering, but, according to the police, some interesting things have been found.
90s and 00s was the time of Pump and Dump scams 10s are the times of binary options scam Why does SEC even let such scams to even settle into something major.......over the years.
A.) The SEC has nothing to do with the U.K. B.) You were warned many years ago by not just the SEC https://www.sec.gov/investor/alerts/ia_binary.pdf, but others as well. https://www.forbes.com/sites/investor/2010/07/27/dont-gamble-on-binary-options/#4536a0b230a8 Do your due diligence and you won't get burned.
I had a $10 free account binary options and realised despite me being on can't lose odds payout wise its a scam, starts off easy then the returns drop and drop till there is no way of out performing them, then you start adding money to keep the dream that seemed so close alive. I got to $200 odds started to drop too much, so took it, free money Average person loses 22k, proves more money you have the dumber you are, smart people spend aa they earn incase tomorrow never comes.