ARTICLE · 06 NOVEMBER 2017

Binary Options Firms Finally Banned In Israel

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The Israeli Knesset finally passed a law banning the huge binary options industry based in Israel ending a ten year scandal whereby fraudulent brokers were able to fleece thousands upon thousands of people...

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The Israeli Knesset finally passed a law banning the huge binary options industry based in Israel ending a ten year scandal whereby fraudulent brokers were able to fleece thousands upon thousands of people of their money in an immense multibillion pound scam. The binary options businesses have three months to wind up their activities after which they will be subject to the full weight of the law if they carry on.

This new move shows a marked change in attitude to the binary options industry which The Times of Israel and Giambrone have relentlessly campaigned to shut down. The previously reluctant Knesset has finally accepted that the fraudsters cannot be permitted to carry on scamming innocent people on an industrial scale without the intervention of the law.

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