Last Tuesday it seemed to be a true razzia that took place in London, where the police on the orders of the FCA 20 binary option approached companies. The binary options brokers are said to have been guilty of fraud, with over £18 million of British victims. All this would have happened in the first half of 2017.
The raids carried out by the police this Tuesday were the culmination of an unexpected London police operation. The agents who carried out the raids, of course, worked together with the Financial Conduct Authority and HM Revenue & Customs to be able to tackle the companies in the financial market.
Investor fraud investigated
What was described by the police as one of the largest operations of its kind proved to be. In total, 20 offices of binary option brokers were turned upside down. Documents and other information that can be used to show various types of investment fraud were searched for.
The fraudulent investments of customers are entirely related to binary options. The police expect that the actions will not only focus on this week’s suspects but will be followed by further arrests. The scandal is reported to have involved at least 700 British victims, which may be even more serious.
Several victims found over the years
It is, of course, not the first time that the FCA, in conjunction with the police, is looking for companies that commit fraud by making financial victims. Indeed, since 2012, the British authorities have managed to identify more than 2065 financial victims in total. These would have lost a total of no less than £59.4 million in total, which amounts to £22 811 per person. Detectives hired to investigate the case believe that this would only be the tip of the iceberg and that there will be more slaughter sacrifices that may not have reported before.
Trading at a regulated broker
In all countries, it goes without saying that you, as an investor, can turn to a fair binary options broker. This means that a company must have a license to offer binary options or Forex options. In addition, they are then regularly checked in order to prevent major cases of fraud such as this in the United Kingdom. If you are not yet familiar with binary options in the Netherlands, we can guarantee that you will always find safe brokers.
For example, we tested IQ Option and Option24 positive. These licensed brokers offer everyone the opportunity to trade with capital and to earn money in a fair manner with investments. In this case, the FCA will take the bad guys out and we will keep an eye on all the safe brokers for you!