Exclusive: FXPRIMUS Takes Down "Turkish Fraudulent Trading Network"

<p>FXPRIMUS has uncovered and dismantled a fraudulent
trading network from Turkey. In a statement sent to <a href="https://www.financemagnates.com/" target="_blank" rel="follow">Finance Magnates</a>,
the Chairman of FXPRIMUS, Costas Georgiades, shared the details of the
discovery and the subsequent actions taken. </p><p>FXPRIMUS used its monitoring systems and
<a href="https://www.financemagnates.com/terms/c/compliance/">compliance</a> protocols to uncover the fraudulent scheme. The network employed
tactics, including the misuse of shared IP addresses and devices. These tactics aimed to
manipulate trading activities and take advantage of the company's bonus scheme.</p><p>Despite the network's complex operations, FXPRIMUS's
analytical tools enabled the identification of irregularities and immediate
response, preventing further exploitation. Addressing negative publicity,
Georgiades has reaffirmed FXPRIMUS' commitment to maintaining the trust it has
built with its clients over the years.</p><p>FXPRIMUS' Battle Against Financial Fraud</p><p>The investigation report signed by Georgiades
stated: "The seriousness of this event cannot be overstated; the actions
of these individuals not only contravene our stringent operational protocols
but also constitute a direct affront to the principles of fair and equitable
market conduct." </p><p>"These entities utilized their own affiliate
links to introduce our services within their network. It is imperative to note
that our <a href="https://www.financemagnates.com/terms/o/online-trading/">online trading</a> facility, encompassing our website, <a href="https://www.financemagnates.com/terms/t/trading-platform/" target="_blank" rel="follow">trading platforms</a>,
and other digital interfaces, strictly comply with international
standards." </p><p>According to FXPRIMUS, this incident serves as a
reminder of the ever-evolving nature of financial fraud and the need for
constant vigilance and innovation in security measures. In response to the deceit, the firm has initiated an internal investigation.</p><p>Measures to address fraudulent activities </p><p>FXPRIMUS has outlined a series of
remedial actions aimed at addressing <a href="https://www.financemagnates.com/terms/f/forex-scams/" target="_blank" rel="follow">fraudulent activities</a> and holding those
involved accountable. These measures include recovery of illicit profits,
cancellation of commissions, and freezing of the accounts involved in the deception.</p><p>The company said that any profits acquired through
illegitimate actions will be promptly retracted. In cases where commissions
were earned in connection with the scam, FXPRIMUS will
nullify those commissions. </p><p>Additionally, for individuals or entities found to
be involved in fraudulent activities, FXPRIMUS has imposed a permanent
ban from participating in any of its bonus schemes. The company will
freeze all funding and trading in accounts implicated in fraudulent activities.</p>

This article was written by Jared Kirui at www.financemagnates.com.