The British regulator FCA received 69 reports on manipulations in the foreign exchange market in a year – out of a total of 822 reports.
The UK regulator, FCA Financial and Supervisory Authority, has released data on the number of suspicious transactions received in 2019. The editors of Finance Magnates have repeatedly reported cases of fraud in the trading industry. Deception thrives primarily in the Forex market, where the development of technology allows attackers to develop sophisticated new tactics of weaning money.
The data published by the British regulator were divided into the following assets – commodity assets, stocks, fixed income securities and forex. They were evaluated in such categories as insider trading, market manipulation and others.
In the Forex market for a year, traders complained about 69 cases of fraud. For comparison: in total, the regulator received 822 reports of fraud or fraud. Thus, reports on manipulations in the foreign exchange market amounted to 8.4% of the total.
Users complained about insider trading on Forex only 7 times a year, while the total number of complaints about this type of violation reached 444. Thus, the foreign exchange market accounted for 1.6% of cases of insider trading.
Most Complaints Received in November
Monthly statistics show that the most complaints – 601 messages – were received by the regulator in November. This is 11% of the total number for the year, which is 5,455 and includes the total number of reports received by the British regulator.
Most suspicious transactions and transactions were recorded on the stock market. In fact, the number of insider trading reports submitted during the year amounted to 4342, which is 93.9% of the total. The regulator complained about manipulating prices in the stock market 492 times. This represents 59.9% of the total number of reports of manipulations.