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Israeli regulator: Binary options fraud disgusting, ruinous to our reputation

Published on Aug 15 2016 // Business and Financial News, Economy

August 14, 2016, 9:33 am  – Shmuel Hauser, chair of the Israel Securities Authority, says Israel-based industry fleecing victims worldwide is a problem of national significance; vows to gather all arms of law enforcement to tackle it.

The Israeli financial agency responsible for protecting investors has vowed to urgently tackle massive worldwide fraud by Israel-based binary options companies, acknowledging that the global scam is causing devastating damage to Israel’s international reputation.

Shmuel Hauser, chairman of the Israel Securities Authority (ISA), said in an interview that he is recruiting all arms of law enforcement, will push for new legislation as needed, and has full political support to grapple with the flourishing fraudulent industry, which, The Times of Israel has reported, employs thousands of Israelis working for more than 100 companies that defraud victims all over the world of billions of dollars.

“I see this on a personal level,” he said, “not just as a regulator, but as an Israeli citizen and as someone who is disgusted by fraud and especially by the type of people who take money from the unfortunate, from orphans and widows.”…..Read More>>

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