Hupkes c.s. advocaten, auteur op Hupkes cs advocaten

Cypriot CFD broker LegacyFX convicted of evading AFM decision

Cypriot CFD broker LegacyFX was ordered by the District Court Midden-Nederland on May 17, 2023 to pay EUR 303,000 to an investor who had lost this amount through CFD investments. Offshore construction In our earlier post on this broker, we wrote that LegacyFX may be evading the AFM decision banning CFDs with leverage greater than 1:30. The AFM decision also contains an "anti-avoidance provision," which thus appears to work, even against a party that does [...]

Hupkes c.s. advocaten2023-05-26T11:05:02+01:0019 May 2023|Contracts for Difference (CFD Providers), Financial law, Fraud & Deception, Investment Fraud & Boiler Rooms, Unlawful Act|

The investment fraudster’s roadmap: 5 tricks a boiler room uses to defraud customers

How do you know if you have fallen into the nets of an investment fraudster, an online scam or an untrustworthy CFD broker? All these scams work according to the same playbook; step by step, the investor, who is actually a prey, is lured into the trap. Phase 1: the positive phase In the first stage, the investment fraudster does not show his true face, but presents himself as friendly and helpful as possible. He [...]

Hupkes c.s. advocaten2023-02-01T12:30:09+01:0015 December 2022|Contracts for Difference (CFD Providers), Fraud & Deception, Investment Fraud & Boiler Rooms|

Is CFD broker LegacyFX evading the AFM decision?

CFDs or contracts for difference are very risky investments with leverage. So risky, in fact, that the Dutch AFM has banned, via a law, the riskiest variants with leverage above 1:30. This provision was widely circumvented by selling CFDs with a leverage of 1:200 through brokers from Cyprus, but several Dutch courts ruled against this in 2021. Investors got their money back. A broker from Vanuatu? What we have since seen is multiple other ways [...]

Hupkes c.s. advocaten2023-05-26T11:05:59+01:004 December 2022|Contracts for Difference (CFD Providers), Financial law, Investment Fraud & Boiler Rooms|

Margin calls and swaps in CFDs (contracts for differences)

Those who start investing through a CFD broker often face "margin calls," or obligations to add money, which increase the risks of this form of investing. Margin calls and swaps (charges over holding positions) can cause these investments to evaporate. What are CFDs? Contracts for Differences are not stocks but derivative, indirect investment products. The investor and the counterparty enter into a temporary contract speculating on a price decline or conversely a price increase in [...]

Hupkes c.s. advocaten2022-11-16T11:38:24+01:0016 November 2022|Contracts for Difference (CFD Providers), Investment Fraud & Boiler Rooms, Terminology|

Increase in fraud via Anydesk and cryptocurrency wallets

Our firm is seeing a sharp increase in fraud using "screen sharing software" from Anydesk, Teamviewer and Screenleap and cryptowallets used to siphon off money. investment fraud This is a new form of investment fraud, which begins with arousing interest in complex investments (Forex, CFDs or cryptocurrencies). The criminal organization uses an investment website where the duped person creates an account. In reality, this is a boiler room; in fact, there are no real investments [...]

Hupkes c.s. advocaten2022-09-03T15:37:50+01:003 September 2022|Asset Recovery, Cryptocurrencies, Fraud & Deception, Investment Fraud & Boiler Rooms, Unlawful Act|

New CFD broker from Cyprus focuses on Dutch people

The Cypriot CFD broker Capixal sells CFD investments on the Dutch market. A report has been received at our office of extensive damage. We're starting a lawsuit.

Hupkes c.s. advocaten2022-08-17T17:48:23+01:006 June 2022|Contracts for Difference (CFD Providers), Investment Fraud & Boiler Rooms|

Lawsuits against new CFD brokers from Cyprus

In recent months, our office has received many complaints about evaporation of investments in CFDs through brokers that have recently been active on the Dutch market, which focus on Dutch consumers. New labels, but the same method The parties that have become active on the Dutch market in recent months are: Tradedwell ( https://www.tradedwell.com/nl ), a label of iTrade Global (Cy) Ltd. IGMFX ( www.igmfx.com/nl ), a label of IGM Forex Ltd Phoenix Markets ( [...]

Hupkes c.s. advocaten2023-02-09T16:42:23+01:0014 April 2022|Contracts for Difference (CFD Providers), Investment Fraud & Boiler Rooms|

Cash deposits valid reason for termination of bank relationship?

As a result of the obligations under the Wft and Wwft, a tendency has become visible that banks are trying to exclude more and more customers with large amounts of cash flows. In addition, they often try to end existing customer relationships with these types of customers and even, in the experience, sometimes look for nails at low tide to get rid of those kinds of customers. Customers with a lot of cash flows therefore [...]

Hupkes c.s. advocaten2022-08-17T17:43:42+01:0013 April 2022|Duty of Care Banks|

Being sick as an employee, what now?

When is an employee sick? There are several aspects to look at to determine whether an employee is sick or not. And if an employee is ill, does the employee have obligations? And does an employer have obligations? In this blog you can read about illness among employees and the obligations that arise from this from both the employee and the employer. Sick according to the law When a sick employee is referred to, the [...]

Hupkes c.s. advocaten2022-08-17T17:44:20+01:0010 April 2022|Various|

Claiming the transition payment after termination of employment

Have you been fired or will your contract no longer be extended? In that case, you are in principle entitled to a transition payment (also referred to as severance payment). A transition payment is a financial compensation that the employer must pay if he no longer extends your contract or fires you. If you resign yourself, you are in principle not entitled to a transition payment, unless there is a serious culpable act/omission on the [...]

Hupkes c.s. advocaten2022-08-17T17:45:45+01:0020 March 2022|Claiming Salary, Dismissal|

ABNAMRO broadens compensation for spoofing fraud

ABNAMRO Bank has just announced that it will also compensate customers for damage caused by spoofing fraud in specific cases of "gross negligence". Until now, this bank has been stricter in assessing fees requested than the other banks. In spoofing fraud, a scammer takes possession of a victim's bank balance by calling the bank's unique number, giving the scammer the confidence that it is a real bank employee who is calling. Spoofing is technically still [...]

Hupkes c.s. advocaten2022-08-17T17:46:12+01:0013 January 2022|Duty of Care Banks, Fraud & Deception|

Three new rulings CFD brokers Cyprus

On May 24, we wrote in a blog that the first ruling has been handed down in a case against a CFD broker from Cyprus. In the meantime, 3 judgments have been added, in which the court has also ruled in favor of the duped investor. The verdicts make it clear that victims of CFD brokers stand a chance in court. District Court of the Northern Netherlands, location Groningen In the verdict of May 19, [...]

Hupkes c.s. advocaten2022-08-17T17:46:46+01:0020 September 2021|Contracts for Difference (CFD Providers), Investment Fraud & Boiler Rooms|

When can you successfully bring a claim in tort against another heir?

Sometimes you only find out as an heir that large sums of money have disappeared from your parents' bank account. In this blog I discuss the possibility of the heirs to recover that money with the tort as the legal basis. In principle no account and justification Now that the elderly continue to live on their own for longer and at a higher age, we see an increase in the use of informal care in [...]

Hupkes c.s. advocaten2022-08-17T17:49:29+01:0022 May 2021|Inheritance & Legacies, Unlawful Act|

First ruling CFDs: EUR 807,600 in damages

A Cypriot CFD broker must repay €807,600 from the District Court of Noord-Holland. The court ruled that there were "unfair commercial practices". This is the first ruling in a series of proceedings pending before various courts in the Netherlands against CFD brokers from Cyprus. In total, this involves damage of more than € 12 million. Most victims say that they came into contact with the investment products from Cyprus through a "fake ad" with a [...]

Hupkes c.s. advocaten2022-08-17T17:50:17+01:009 May 2021|Contracts for Difference (CFD Providers), Investment Fraud & Boiler Rooms|

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