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The Israeli cabinet on Sunday approved a bill to ban the entire binary options industry, a multi-billion dollar, widely fraudulent, Israel-based enterprise, whose activities have been exposed in a series of articles by The Times of Israel since March 2016.The bill was immediately also approved by the Ministerial Committee on Legislation, and will now go to the Knesset plenary for a first reading.
"As part of our commitment, we are continuing our actions against binary options that cause damage to Israel's image in the world. After we saw that other countries are not outlawing binary options, Israel is taking responsibility in order to prevent the defrauding of innocent people," Groner said on Sunday.
Unveiled at a session of the State Control Committee on February 28, the bill to ban the industry languished for several months amid rumors that lobbyists for binary options brokers were working to block its passage at the Ministerial Committee for Legislation.
The draft legislation was approved by ministers more than a year after The Times of Israel began exposing the widespread fraudulent practices of the binary options industry.
The proposed law greenlighted on Sunday bans all binary options trading, period, and thus aims to put a complete halt to the blight of Israeli binary options firms duping victims all over the world into parting with their money.
The Israeli binary options industry, which has flourished for a decade with almost no intervention by Israeli law enforcement, has been estimated to bring in between $5 billion and $10 billion a year, to number well over 100 companies, and to employ between 5,000 and many tens of thousands of employees.
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Israel’s multibillion-dollar binary options industry, which has scammed millions around the world over the past decade, is out of business. On Monday, the Knesset unanimously passed a law to ban ... Israel just banned the sale of binary options – an industry that has brought in $10 Billion a year for the past ten years through conning millions of people around the world. The new bill came when legislators were worried that the scam was hurting Israel's image – it was already illegal to sell to Israelis. Some consider the bill too little, too late... Kai Petersen. The binary options schemes were operated by fraudulent boiler rooms in Germany and Israel. The largest boiler room was operated from Israel by a Five Stones Monopoly Marketing Ltd (now Silverpop Media Ltd).At their height, these boiler rooms collectively employed as many as 200 people. The ban on binary options in Israel has been in effect since January 26, 2018. With scandals continuing to be exposed in Israel and around the globe, it is unlikely this policy will be reversed anytime soon. Indeed, there has been a string of raids and arrests. Shlomo Blitz worked inside Israel's binary options industry where he helped to scam victims — including Australians — out of their money. Binary options is a highly speculative form of trading ...
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This session will look at binary options fraud, which has become a global phenomenon, particularly in Israel, where many of the perpetrators are based. We wi... Binary Options Fraud: Inside A Multi-Billion Dollar Global Crime Wave - Duration: 35:12. ... How Israel Rules The World Of Cyber Security VICE on HBO - Duration: 14:18. Prompted by The Times of Israel’s reporting, the State Control Committee on Monday began coming to grips with the vast, global, Israel-based scam http://toi.sr/2ipyUU3. Here Are The Findings: https://bit.ly/34C9U3O - Unknown Facts About Analysis: Israel's Binary Options Ban Disrespects Foreign The main text on each extension... The Tel Aviv Stock Exchange in Tel Aviv is Israel's public stock exchange we can trade index Tel Aviv on IQ Option predict the price will go up or down in certain expired time and get profit up to ...