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financial law

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 ( [...]

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, [...]

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 [...]

Counter-procedures CFD brokers stranded

A counter-offensive by the providers of CFD products has been halted. The judge in Cyprus refuses permission to take Dutch consumers to court. fake ads These are providers of contracts for difference (CFDs) from Cyprus who sell these investment products through fake advertisements about bitcoins and famous people. Last year, several Dutch courts declared themselves competent to hear cases against these parties. The stake is now more than € 8,000,000. Which judge? The CFD brokers [...]

Developments in the lawsuits against the CFD brokers from Cyprus

Lawsuits are pending in various Dutch courts against sellers of CFDs (contracts for difference) from Cyprus. Victims have lost a lot of money, with peaks of up to 800,000 euros. Most victims say they ended up at the CFD brokers through a fake advertisement with a well-known Dutch person. What are the developments in these lawsuits?

Paying investments with bitcoins?

Pay with bitcoins? Then it could be fraud. We are seeing a strong increase in fraud with investment products via cryptocurrencies at our office. If an "investment firm" asks you to pay "investment" via bitcoins, which you must first purchase via a "wallet" at a (reliable) company, realize that fraudsters have their reasons for not getting paid via the bank . Anonymously Payments with cryptocurrencies can be transferred more anonymously and faster to a wallet [...]

What is a boiler room?

A boiler room is a criminal organization that extorts money from people through fake investments. Boilerrooms disappear after a while and the loot is often hard to find after that. Method There is not one typical method for this criminal activity. Many boiler rooms approach their victims by telephone and persuade them to invest via a website. This website can give access to a (fake) account where the victim is led to believe that his [...]

Does a bank have a duty of care towards third parties?

When you think of a duty of care of banks, you think in the first place of the customers. But the duty of care can also relate to third parties. For example, a customer of the bank can be a swindler, who uses the checking account to receive deposits from victims, after which that money is funneled away. Can you sue the bank for the damage? Is the bank expected to monitor suspicious transactions from its own customers to protect non-customer third parties?

How to recognize investment fraud

Suppose you are called to start investing and it seems like something to you. You look at the website and it looks good. You can start with a low amount and your investments will go well. You get a call again, and you're tempted to make some more. But you still have doubts, because the company is abroad and you wonder if it isn't too good to be true. How do you recognize whether you may be dealing with a "boiler room"? In this article we give 9 tips on how to spot an unreliable investment website. Investment fraud is common. It happens to both novice investors and experienced investors who embark on an adventure with CFDs (contracts for difference) and Forex products. These are our tips!

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