The quantity of reports about binary options frauds has risen this year in the UK, with persons who has committed a crime often using the different names of respectable people to attract customers.

We have already had a similar case with multimillionaire Peter Lima reporting a binary fraud where his name and reputation were used for fraud in advertising automated software.With the rise of binary options frauds in the United Kingdom, the number of complaints and requests for solving this issue is constantly increasing. Criminals, in new cases, began literally stealing identities of well-known individuals and their businesses to attract customers.

Namely, the London police issued a special statement in which they explained that fraudsters in binary options use the names of celebrities to give them more credibility. Sir Richard Branson apparently upset explained that he and his companies were not involved or invested in any binary options system.

Sir Richard Branson also said: “I went out to the public and the police to prevent and help those who gave money and their private information to those who were ill-conceived. These scams can greatly affect the financial stability of an individual and I ask anyone who has any knowledge of them to report them.”

Also, figures do not support binary options related reports. In just a year, as reported by the internet fraud prevention center “Action Fraud” we are talking about figures that have grown from £2 million to as many as £13 million in the same period. While some speculate that there si a great increase in the number of binary options scams, others suggest that this is the first time that regulators really started paying attention to what is going on on the market.

Some of the main conclusions are that fraud can occur in moments when:

  • Better percentages are offered
  • The client’s credit payout is rejected
  • When every contact with the client is ignored
  • When software is being manipulated to change prices and payments

All investors are advised to report any suspicious action immediately to the police to check the status of the one who supplies the financial service.

However, some countries have realized that such an approach is not good and quality so they have taken very strict measures. In the past days, we have told you that presidents of certain binary options companies have been arrested in Israel, and Canada intends to totally ban the use of binary options.

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