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Google, Facebook, Twitter, and Apple sought to combat securities fraud

by

Hubert Roy

11 July, 2018 09:45

The canadian securities administrators (CSA) have established links with the giants of the digital world to combat fraud in Canada, reveal the CSA in their Report on the application of the law 2017-2018. In addition to Google, Facebook, Twitter and Apple, the CSA have also established relationships with credit card companies, such as Visa and MasterCard.

By this approach, the CSA has a dual purpose. The consolidation of provincial regulators is to ensure that it is more complicated for the fraudsters to access the digital channels, and advertising likely to encourage Canadians to perform at their blind investments.

Avoid at all costs binary options

As to the links made with the credit card companies, the CSA want their support to prevent the scammers access to their payment systems for transactions on binary options. In 2017-2018, the binary options, which are to take a bet on the performance of an asset, have been one of the sources of fraud for which the growth was the fastest in Canada. The CSA rely on an advocacy group specific to binary options.

Moreover, in 2017-2018, 124 respondents have received interim orders or restraint orders that have prevented them from doing more damage to investors. The courts have imposed on 37 people prison sentences totalling 43 years in the course of criminal proceedings or a criminal.

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