argomento: News del mese - Diritto Internazionale e Comunitario

Articoli Correlati: investment fraud - Cryptocurrencies

Crypto currencies are a true and authentic revolution in the monetary world, States and central banks no longer print money but complex cryptographic algorithms, which create a virtual currency. The Financial Conduct Authority (FCA) has warned the public about investment frauds made through false trading, after the number of crypto currencies and forex investment scams has more than tripled last year. Forex is the acronym of Foreign Exchange market, it is a currency exchange market and represents the largest financial market without having a central physical location. In this virtual place the major currency pairs are exchanged, through the exchange rate that constitutes the reference value for the currency trading. Using figures from Action Fraud, the national fraud reporting service, the FCA has announced that the victims have lost more than 27 million pounds in total for scams on crypto currency and forex investments in 2018-19. However, total losses decreased from £ 38 million to £ 27 million and average losses also fell, from £ 59,600 to € £ 14,600, in the 2018-19 financial year.