We are in the middle of a Forex & Crypto Scam epidemic.
It would be a full time job blogging/reporting/telling agencies & regulators of all of the Forex & Crypto scams active on websites, forums & social media right now.
There are thousands on Instagram alone – go and search “Forex” and see what you get.
I have spent 4 days solid (I do have a day job thanks…) trying to reverse the damage done by BBC Three, BBC Wales and the Wales and Co production company by airing, “Young Welsh and Pretty Minted”.
In it they feature Forex Scam Marketer Ashley Richards – you can read my article here – https://forexcrypt.com/ashley-richards/
So far BBC Three, BBC Wales, Wales and Co production company, The Western Telegraph, Wales Online, the Daily Star and Ladbible have all promoted Forex Marketing Scammer Ashley Richards – not one of them have responded to multiple tweets and emails – NOT ONE!
I sent the FCA two scam reports this week and 2 emails – I rang them yesterday to find out where they were in their investigation – “We cannot find any record of the two scam reports submitted nor the two emails” – Jesus fucking christ almighty the FCA are in total disarray.
Not content with publishing complainants details online – their whole operation is a joke and now the clown who made that mess is running the Bank of England.
Broadcasters & Newspapers
At present we have Media Companies, Newspapers and Social Media Companies giving platforms to Criminals operating in Forex & Crypto.
These Media Companies, Newspapers are doing zero diligence on any of these people.
Publishing, promoting and giving a free platform to Criminals – it is a free advert for them in front of hundreds of thousands of people.
Before Christmas we had Gurvin Singh being pumped up by the Plymouth Herald and by the SWNS news agency.
The Daily Mail and other UK national newspapers picked this story up and gave him an even bigger platform.
It is estimated people have lost a total of £4 million so far because of Gurvin Singh.
You only have to go onto Twitter and Instagram to see thousands of scam/scammers jostling for peoples money with fake MT4 demo results, photos of fast cars, expensive watches, designer clothes, tables full of cash and private jets.
These ~20 year old scammers – who are criminals (I genuinely believe people think they are not criminals – IT IS FRAUD), are getting away with it and the UK authorities and regulators are nowhere.
Even worse we have the UK national broadcaster – the BBC, giving one of these marketers his own slot on a TV programme airing to hundreds of thousands of people.
This has got to stop. They are promoting criminals.
I don’t see anyone doing anything about it. Why are the UK regulators (FCA, Ofcom, IPSO, ASA) not stepping in and telling Media companies this is totally unacceptable?
When I saw the Gurvin Singh nonsense I contacted the SWNS news agency in November 2019 before it was reported as a scam – they did nothing.
I then contacted them again in January 2020 once the FCA published their warning on Gurvin Singh and they both gave me a withering response claiming to have performed ‘extensive’ due diligence – I asked what this diligence was and they refused to answer (I probed them multiple times to respond).
We all know they simply put up a clickbait PR piece for him – Media companies and Newspaper love these get-rich-quick stories because it means huge advertising revenues – so much so, they’ll never get rapped for it, if they did the revenue made would cover the legal fees/fines.
In January after sending further emails to SWNS, SWNS took their promotional video of Gurvin Singh down.
William Telford from the Plymouth Herald who wrote the original article on Gurvin Singh and thus making him famous didn’t even respond on Twitter nor email – think about that for a minute, he has given a criminal a leg up to scam people out of £4 Million and didn’t even respond – how can he sleep at night?
SWNS are not part of IPSO so I cannot complain about them – so what can you do? These idiots put up a promotional video of him.
Social media companies are culpable too – nearly all of them provide no human contact center to speak to, to get these scammers and scam companies removed.
I contacted Facebook who own Instagram this week via their “report” links – they wrote back saying, “Sorry we cannot do anything” – All Facebook care about is revenue.
Online, we have Action Fraud (UK Police arm responsible for reporting fraud) and Regional Police departments and Police agencies responsible for Fraud retweeting each other “nice” messages about scammers and what to “spot” – this is the equivalent of punching smoke – They genuinely have no idea how pathetic this all is.
The current approach in the UK to (online) scams is totally and utterly wrong – it isn’t working.
It is absolutely no wonder scammers can do as they please – even getting aired on the BBC.
If you want to scam people, come to the UK – we are open for business – we will even stick you on the national broadcaster the BBC!
When are the UK Government/Agencies/Regulators going to get a grip on this?
What Agencies/Regulators can we use in the UK?
The UK Financial Conduct Authority – FCA – https://www.fca.org.uk/consumers/report-scam-unauthorised-firm – this is the first stop. Scams need to be reported here – even if they give you some claptrap they are not responsible – report it to them.
Citizens Advice for Trading Standards – it looks like a dodgy link but its a legitimate form… – https://ssl.datamotion.com/form.aspx?co=3438&frm=general&to=flare.fromforms
HMRC Tax Evasion – Most of these scammers all show expensive cars and living the high life, if you check their Limited Companies – no money is passing through. you can report them for tax avoidance.