Revealed: How Brits are losing millions to UK’s biggest scam while the government stands by – The Bureau of Investigative Journalism

Thousands of British people have lost millions of pounds to an international scheme that is sold as an investment opportunity but in reality is a gamble or straight-up scam. While other countries have banned this business, a regulatory loophole has left UK victims completely unprotected – despite police saying it is now the biggest fraud in Britain.

The sale of what are known as binary options involves betting on whether financial assets, such as shares, currencies or commodities, will rise or fall over a specific time period. Even when the bets are legitimately placed, it’s a hugely risky enterprise – but our investigation indicates that for many companies binary options act primarily as a vehicle for scamming people out of money.

Source: Revealed: How Brits are losing millions to UK’s biggest scam while the government stands by – The Bureau of Investigative Journalism

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