binary options

CFTC Headquarters in Washington, DC (Courtesy)

July 18, 2018, 1:16 pm

US seeks record $75m. from marketer for steering victims to Israeli binary scams

Boasting of 'ruining lives,' Florida's Michael Shah allegedly sent traffic to Israeli-run binary options sites including LBinary, TraderXP, Trade Rush, Banc de Binary, OptionRally

By Simona Weinglass

July 1, 2018, 2:33 pm

Don’t let Israel become a promised land of impunity for crooks and fraudsters

Israel's law enforcement bodies are not cooperating with their foreign counterparts in tackling financial fraud. Are they 'only' spectacularly incompetent, or something even worse?

By Simona Weinglass and David Horovitz

In this photo provided by the Philippine National Police, SAF (Special Action Force) members escort Israeli nationals following a raid at Clark Freeport Zone, Pampanga province, June 7, 2018, in Quezon city, northeast of Manila, Philippines. (Philippine National Police via AP)

June 12, 2018, 3:04 pm

Israelis nabbed in Philippines are tip of iceberg in alleged fraud gone global

As police raid Israeli-operated boiler rooms in Asia and Eastern Europe, local law enforcement has yet to indict a single operative from an industry that has stolen billions

By Simona Weinglass

Investigative reporters Simona Weinglass of The Times of Israel (left), Kelly Carr, Milagros Salazar, Jaimi Dowdell and Trace International President Alexandra Wrage at the Trace Prize for Investigative Reporting award ceremony, June 6, 2018 (Photo Courtesy of TRACE)

June 5, 2018, 7:54 pm

Times of Israel’s Weinglass wins reporting honor for binary options exposé

After Knesset bans widely fraudulent industry in wake of her work, Simona Weinglass awarded honorable mention in 2018 international Trace Prize for Investigative Reporting

By TOI staff

In this Jan. 23 2018 file photo, MoneySavingExpert founder Martin Lewis poses for a photo at the NTA show,. (Ian West/ PA via AP)

April 26, 2018, 6:23 am

Facebook’s nightmare UK lawsuit revolves around Israeli binary options ads

Top British financial advice expert is suing under-fire social media giant for ads that used his image to steer trusting respondents into the hands of scammers

By Simona Weinglass

A screenshot from a Canadian government website designed to prevent citizens falling victim to binary options fraud.

March 28, 2018, 7:05 pm

European Union bans binary options, strictly regulates CFDs

Vise tightens around Israeli online scammers; Israeli banks close forex companies’ accounts, and Twitter follows Google and Facebook in banning cryptocurrency ads

By Simona Weinglass

Lee Elbaz, former CEO of Yukom Ltd. (Linkedin)

March 24, 2018, 9:50 pm

US grand jury indicts alleged Israeli binary options fraudster Lee Elbaz

CEO of Yukom Communications charged with defrauding investors all over the world through the websites Bigoption.com and BinaryBook.com

By Simona Weinglass

An ad for binary options firm Prime Sales featuring a still from ‘The Wolves of Wall Street” (Screenshot)

March 14, 2018, 1:57 pm

Google to ban all ads for binary options, cryptocurrencies

In massive blow to Israel’s criminal investment scam industry, Internet giant's move also covers unregulated forex and CFDs

By Simona Weinglass

Logos of US multinational technology company Google, on December 28, 2016, in Vertou, western France. (AFP PHOTO / LOIC VENANCE)

February 6, 2018, 10:42 am

Regulator calls on Google to ban ads for binary options, cryptocurrencies

Canadian and US law enforcement have explained to Google how the advertising enables scammers to find victims, asked it to follow Facebook's lead in barring the ads

By Simona Weinglass

A Facebook ad for an Israel-based binary options firm posted April 19, 2016 (Screenshot)

January 31, 2018, 4:12 pm

Facebook bans ads for binary options, cryptocurrencies and ICOs

Crackdown comes after pressure from Canadian and US law enforcement, amid efforts to curb binary options crime, much of it based in Israel, and cryptocurrency fraud

By Simona Weinglass and Agencies

A screenshot from a YouTube video in which basketball coach Pini Gershon, a former binary options company owner, warns the public against investments that sound too good to be true.

January 28, 2018, 3:42 pm

Regulator makes ad warning against fraud – starring ex-binary options firm owner

Israel Securities Authority pulls video clip; says basketball coach Pini Gershon was chosen as spokesman because he'd been victimized by different fraud

By Simona Weinglass

Illustrative: Agents from the FBI and other law enforcement agencies at work in New York. (AP file photo/ Louis Lanzano)

January 28, 2018, 9:47 am

Former top FBI officer warns: Israeli law enforcement lax, reforms needed

Joseph Campbell, who oversaw 6,000 agents, says binary options fraud is tied to transnational crime, flourishes where authorities weak; proceeds may fund terror, other dark crimes

By Simona Weinglass

January 21, 2018, 5:29 am

Amid police inaction on binary options fraud, FBI pursues suspects in Israel

Agents visit platform provider SpotOption, and question binary options company owner Yossi Herzog

By Simona Weinglass

Illustrative image of a prisoner behind bars. (sakhorn38/iStock via Getty images)

January 9, 2018, 6:03 am

In rare move, Israel sends internet financial scammers to jail

Five men sentenced for 'CEO fraud' against companies abroad, highlighting Israel’s attractiveness as a hub for transnational organized crime

By Simona Weinglass

Diamond particles flowing on a black background (Illustrative: iStock)

January 4, 2018, 6:02 am

Diamonds are a scammer’s best friend

Undeterred by the new binary options ban, Israel's boiler rooms are doing brisk business. An ex-employee describes how his company shifted to hawking diamonds

By PIERRE-SIMON ASSOULINE