Apple and Google pull hundreds of trading apps from stores over fears of financial scams

The Independent:

Apple and Google have removed hundreds of trading apps from their online stores after an intervention by the Australian Securities and Investments Commission (ASIC) to crack down on online fraud.

In a statement on Tuesday, ASIC said it had conducted a sweeping review of mobile app stores focusing on those associated with so-called binary options trading. It said that the review highlighted over 330 apps that were offered by entities and individuals that appeared to be unlicensed.

Terrible scam, some reports of people losing their life savings.



  • bdkennedy

    I have no sympathy.

    • Mo

      What kind of app would anyone in their right mind conduct such business on that wasn’t licensed to trade securities?