Romance Scams
Impersonation Scams
Investment Strategies
Phishing Scams

Many tricksters are using Facebook to get access to unsuspecting marks around the world. In this article, we will explore some of the most common Facebook scams.

Romance Scams on Facebook
Romance Scammers will approach you out of the blue. They start the conversation by explaining how they are unlucky in love and that they are interested in you. The purpose of this is to tell why they are writing to you over Facebook, which may initially seem strange. Typically there is an obstacle why they can’t meet someone in person. Excuses include being in a bad marriage, in the
military or working in a job that is isolated or requires frequent travel. When you are convinced that the situation is absolutely rational, the conversation will progress for weeks or even months. This is a
long con, and the romancer will take their time to gain your trust. When they think the time is right, there will be a situation where they need money. It could be for rights or visas to come and visit you or to solve a financial problem they are facing. The relationship will last for as long as you keep saying yes and sending money.
As soon as you either run out of cash or figure out that you are being played it might seem impossible to get your money back. Unfortunately, most of the personal information you’ve been given during the relationship is fake. While you might not be able to track down this con artist, there are digital security experts like Cybersphere Security. They specialize in tracking down Facebook romance scammers by using several digital detective tactics.

Facebook Messenger Scam
The Facebook Messenger scam highlighted some of the significant vulnerabilities of Facebook. It caused the company to develop
dozens of sophisticated features. Despite Facebook removing billions of accounts every year, many make it through their defences
and manage to scam many Facebook users. The Facebook Messenger scam is one of many condence tricks occurring on the platform, except this one includes an element of
impersonation too. You will receive a message from what seems to be one of your friends, at least they will have the same name and prole picture. They will start by telling you about some good fortune they have recently found for themselves and start telling you about how you can get in on the action.
How successful the Facebook Messenger scam depends greatly on your relationship with the person and the context. While many people notice that something is strange, the sheer volume of attempts means some slip through the nets.

Credit Card Phishing Scams
During the COVID-19 lockdown, many people are using the extra time they have to either binge on Netix, learn a new skill or master the financial markets. This is why you may have noticed an increase in online courses and digital services promoted on your
Facebook newsfeed. These digital products are advertised as having massive discounts to make you feel that you’re getting a great
deal.
For example:
Learn to Code Course for just $44.99 (was $1995)
The Secrets of Day Trading for $30 (was $2000)
Millions of Stock Photos for only $25 (worth thousands)
While many of these courses are just a waste of money, there is something much more sinister lurking in the background. Some of these courses are phishing scams. Scammers are impersonating credible advertisers on Facebook; for example, news companies like the Financial Times and Bloomberg.
Fake accounts are using credible names to gain your confidence. Their objective is to get you to hand over your personal details and credit card information. This allows them to steal money from your credit or debit card.
While credit card issuers do offer some degree of protection, if you have given your debit card details, you might nd your bank offers very little help to recover your stolen money. That is why you will need a specialist in criminal fraud investigation who caught your case for you.

Have you been scammed on Facebook?
Facebook scams are prevalent and come in many forms. Tricksters have direct access to billions of unsuspecting marks.
At Cybersphere Security, we specialize in recovering losses for clients who fall victim to all manner of scams.
However you have been deceived, our specialists will give you the attention that law enforcement won’t. We thoroughly investigate what happened and how it happened. Based on this, we will be able to propose a strategy for recovering your assets and seek justice to prevent this from happening to other people as well. We are a free consultation for anyone seeking help to reclaim their assets.

The post Facebook Scam are in Over Drive first appeared on Max Recoup.

Binary Options Scams Wreck Retail Traders
The Binary Options industry was all the rage at the start of the decade. A huge selling point of Binary Options trading was the simplicity and the fast-paced nature of trading. These features made it an incredibly easy product to sell. The overwhelming perception of ease made it accessible to literally anyone. Binary Options made investing in complex financial instruments a simple game of high-or-low.

According to the Times of Israel, the FBI estimates that Binary Options Scams steal approximately $10 billion around the world each
year. At the start of the decade, Binary Options went from being a regulated activity to being outlawed in many countries.
How Binary Options Work
A Binary Options trading platform looks like a cross between a slots game you might nd in a casino and a stock trading platform.
While the applications do show price charts for financial instruments like stocks or forex pairs, the experience makes you feel as
though you are betting, not trading or investing. When you place a Binary Options trade you essentially bet on whether the price of the market will be higher or lower than what the
price is at the moment you place your option. If you are correct, you win a percentage of what you wagered, typically 80%. If you
lose, you will have lost your entire wager.
Binary Options trades are typically short-lived. Many providers oer 60-second options. Due to the volatility of markets, it’s very easy
for Binary Options Brokers to manipulate the price feed in their favour. This is easy to get away with because of the lack of
transparency and fast-paced nature.
Binary Options Regulations
The classification of Binary Options has varied from country to country. The Mediterranean Island of Cyprus was the centre of the
explosion of the electronic trading industry, becoming home to many hundreds of online trading companies. In May 2012, the
Cyprus Securities and Exchange Commission (CySEC) announced that Binary Options would be considered as financial instruments
and companies providing this product would need to be regulated.
Since then, different counties have taken different viewpoints. In March 2013 the Malta Financial Services Authority (MFSA)
announced Binary Options would be transferred away from Malta’s Lottery and Gaming Authority. Later, in June 2013 the MFSA confirmed that Binary Options fell under the scope of the financial instruments and joined Cyprus in regulating the activity.
On the other hand, in the United Kingdom, Binary Options were regulated by the Gambling Commission rather than the financial
services regulator the FCA.
Meanwhile, several other countries in the EU had banned Binary Options altogether, up until 2018 when the European Securities
Markets Authority introduced measures to ban the sale of the product completely.
In the United States, Binary Options are regulated, except they function very differently to the game version upon which many Binary Options scams are based. Binary Options scams are widespread in the United States and it’s a big issue for the country.
What Binary Options Scam Victims can Do?
The activity of providing Binary Options is either completely illegal, in the process of being outlawed or highly scrutinized. Therefore,
most of the Binary Options brokers operating today are unregulated. The typical complaints procedure for reporting investment
fraud may yield little results. Your complaint will most probably join a pile of evidence about an offshore company which will be hard to shut down, seize assets and compensate investors.
If you have been scammed by Binary Options fraudsters have an alternative and more eective solution than relying on law enforcement procedures. As a cybersecurity company, we specialize in not just preventing attacks but also tracking down perpetrators. If you have paid money to a company, there is always a paper trail and our investigators can see where it leads. We track down the operators of the scam and based on the intelligence we gather, we will act accordingly. Our Binary Options Recovery service will offer you a good chance of reclaiming your stolen funds. We will cooperate with law enforcement along the way to ensure that any incriminating evidence we collect can also be used to prosecute these criminals and stop them from conning even more people.

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Why Invest in Gold
Anyone familiar with trading or investing will know there is an abundance of asset classes you can invest in. Individual investors, investment banks and funds actively invest in many markets; stock markets, energy products, government bonds, currencies, energy products and more. During any time of crisis, there is an abundance of uncertainty, especially when it’s a medical crisis that is beyond the control of governments. Because of the scepticism, investors take their money out of the market and typically don’t put it back until they are confident order is restored. The first response governments always take towards addressing economic situations is slashing interest rates. The purpose of this is to encourage spending, not saving. Meanwhile, governments are issuing trillions of dollars to stimulate the economy, support business and the unemployed. As central banks issue new currency and inject it into the economy, they dilute the currency supply that’s already in circulation. Because of this,
no one wants to hold cash in their account.
The value of gold is on a persistent uptrend at a higher rate than that of the nation. Because of this, individuals and corporations purchase gold to shield their assets from economic uncertainty.

Gold Supply Chain Issues
The law of supply and demand dictates the price of anything. Or at least it should. In March, there was a massive run on physical gold which left suppliers with little to no inventory as physical gold brokers saw demand spike ve-fold in March.
While demand surged, three of the largest renters; Valcambi, Argor-Heraeus and PAMP ceased operations. These reners are based in Ticino, Switzerland, which borders Northern Italian regions which were struck by a SARS-CoV-2 outbreak. A Swiss government order required non-essential businesses, such as gold reneries to terminate operations as part of an effort to reduce the spread of
the virus.
Now renders are back up and running; it’s the miners facing obstacles. In the Americas, miners are shutting down because of the ferocious spread of Coronavirus throughout the two continents. For the miners who are still operational, the grounded airline industry is blocking them from being able to move their product. Pretty much everything that could go wrong for gold production did go wrong. Supply is profoundly affected, and it’s no secret.

Digital Gold Investment Schemes
The most cost-effective and standardized format of buying gold is in ounces. The price of an ounce of physical is approximately $1,700. For some personal investors, this is quite an expensive asset to invest in. There is also storage to take care of. Do you have a safe place to keep your gold, or do you have such a high volume of precious metals that it isn’t realistic to store it in your house? Online gold investing platforms address both of these issues. Large gold buyers can buy their gold in bulk without having to deal with the risk or responsibility of storing it. Smaller gold buyers can deposit to their gold account to make smaller purchases of gold each month. Once enough gold has accumulated in the account, physical bullion can be withdrawn. While many reputable companies over this type of gold investment, there are many more companies which aren’t legitimate. Gold is an expensive commodity, and the business model is fragile. Also, this business is not regulated or scrutinized in the same way as other investment firms. If a company runs into hardships or becomes insolvent, you may nd you are not protected the way you expected. If your lost gold investments are worth thousands or even hundreds of thousands, Max Recoup offers a list of recovery services, with an approach tailored to the specific circumstances of your loss.
Gold Scams: How to Recover Losses
In 2020, there has been a massive demand for investing in gold, silver and other precious metals despite there being a significant lack of physical gold on the market. Legitimate companies and scammers alike have responded by creating incremental investment schemes.
Due to the lack of regulation or mainstream attention, this type of investing gets, it’s incredibly easy for con artists to set up a website, do some marketing and start embezzling your money. The unfortunate thing is, you will never notice until you ask to withdraw your gold, or they disappear after pocketing your cash.
If you have been the victim of a gold scam or a failed gold investment scheme, we are confident that we can recover your financial losses. Contact us to get a free consultation today.

The post Gold Scam are on the Rise first appeared on Max Recoup.

In this article, we will explore some of the most prevalent cryptocurrency scams to be on the watch for. At the end of the article, we will oer some advice on how asset recovery companies can help victims of cryptocurrency losses to recover their assets.

How to Avoid Cryptocurrency Scams
Many of us have been brought up with the saying if it’s too good to be true, then it probably is. While this rule generally holds true, it
relies on having an understanding of normal is. For someone entirely new to the cryptocurrency ecosystem, they don’t have that
baseline. To them, everything seems too good to be true.
The best way to avoid cryptocurrency scams is to be aware of what they look like.
Cloud Mining Scams Most cryptocurrencies, Bitcoin included, use a process called mining, which is how new coins enter circulation. Miners are
computers which run software to process transactions for a blockchain. When a batch of transactions is processed, a miner earns a
reward, which is new coins.
Mining Bitcoin has become very resource intensive as more people use the network. The idea of cloud mining is that multiple people contribute their own processing power or contribute financially to rent server space. When a reward is earned, the amount is divided proportionately amongst those who provided the resources to process the block of transactions.
While this all sounds very straightforward, there is a history of bad actors using this nice concept to defraud contributors. Some
Cloud Mining scams are just a Ponzi scheme. Others use it as a cover story to charge fees for a service that won’t yield any returns. In other cases, successful cloud mining operators run o with the cash.
ICO Scams
An ICO is an Initial Coin Oering. The term is very similar to IPO, which is an Initial Public Oering. From a very high level, an ICO and
an IPO look similar. Both approaches are used to raise funds, and they both issue theoretical pieces of ownership. In the case of an
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IPO, it’s a share of a bonade company, publicly listed on a Stock Exchange. In the case of an ICO, the investor receives a
cryptocurrency or a token. The token relates to the project that money is being raised to fund.
Literally, anyone can launch an ICO and raise funds. Often is the case that projects raise tens of millions of dollars in Bitcoin,
Ethereum or other cryptocurrencies. Despite raising such massive amounts of money, there are countless examples of projects
never coming to fruition for one reason or another.
Because no regulation or consumer protection is covering ICO’s, there is very little that authorities can do to help victims. The
decentralized nature of cryptocurrencies makes it easier for con artists to slip away since their transactions are outside of the
banking system. A lack of jurisdiction makes the job law enforcement tougher, which is why asset recovery companies like ours are
thriving in this sector.
Cryptocurrency Hacking
It’s not just people who are the target of cons. Many sophisticated groups try to target exchanges and wallets which hold the assets
of hundreds and thousands of users. Some exchanges hold hundreds of millions of dollars of Bitcoin and other cryptocurrencies.
Due to the signicant values, these exchanges are a signicant target for hackers.
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While these companies are ultimately responsible for holding your assets safely, the lack of regulation and accountability in the
crypto industry means there is little protection for investors. Those who were negligent usually walk free, while investors are left to deal with the consequences.
How to Recover Cryptocurrency Losses Whether you have been the victim of a cryptocurrency scam or your assets have been hacked or stolen from a wallet or an exchange, recovering your assets is not impossible. Fraudsters like to think that they are untraceable and out of the reach of the law. However, blockchains are an immutable record of transactions and forensic data investigators, like us, can use this to their advantage. At Cybersphere Security, we have been incredibly active in recovering significant amounts of stolen cryptocurrency under a variety of circumstances. Anyone who has been deceived by the crypto underworld should contact us for a free consultation.

The post An overview of the most common cryptocurrency scams first appeared on Max Recoup.