Gabriele Giambrone Comments On Binary Fraud

The Sunday Times highlighted at the weekend the rise of complaints against binary companies which has dramatically increased in recent months.  The City of London police report that the average loss is in the region of £20,000 commenting that "it is the latest and perhaps the fastest growing iteration of investment fraud".  The fraudsters are aiming at a younger audience drawing them in using social media sites such as Instagram.

The binary industry is largely unregulated as frequently the brokers and companies perpetrating the frauds use complex and convoluted procedures to bypass the more robust regulatory bodies such as the Gambling Commission and the Financial Conduct Authority.