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Posts tagged as “Wirecard”

The EFRI Mission – Involving Regulators and Prosecutors to Recover Funds for Defrauded Investors

The European Funds Recovery Initiative (EFRI), co-founded by FinTelegram, is specialized in the recovery of funds of investors who have been defrauded by investment scams. Furthermore, EFRI sees itself as an advocate for investors and investor protection. Currently, EFRI has been granted a Power of Attorney by more than 800 victims which have been defrauded of more than EUR 34 million. The approach applied by EFRI differs in several aspects from the activities of lawyers and other organizations in the recovery business. Also because EFRI is organized as an initiative and association of victims.

Wirecard or why compliance is important

Following the KPMG special audit report that uncovered substantial issues with the company's compliance procedures, the DAX-listed German FinTech Wirecard has announced to create a dedicated compliance department to monitor compliance with laws and regulations. The department is becoming a board department, which emphasises the importance of the issue.

Binary Options Legacy – Canadian Regulator OSC charges David Cartu and his brothers

The Canadian regulator Ontario Securities Commission (OSC) has filed civil charges against the three Canadian-Israeli brothers David Cartu, Jonathan Cartu, and Joshua Cartu for illegally soliciting Canadians to trade binary options, defrauding Ontario residents out of $1.4 million, part of a $233 million global scheme. According to the report, the Cartu brothers immigrated to Israel from Ontario in the last decade.

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