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IC Markets

We are investigating IC Markets for allegedly attempting to conceal critical reviews and adverse news from Google by improperly submitting copyright takedown notices. This includes potential violations such as impersonation, fraud, and perjury.

PARTIES INVOLVED : IC Markets

ALLEGATIONS : Perjury, Fraud, Impersonation

INCIDENT DATE : 20 Aug 2024

INVESTIGATED BY : Ethan Katz

TOOLS USED : Lumen, FakeDMCA, SecurityTrails

CASE NO : 5643/A/2024

CRIME TYPE : Intellectual Property Scam

PUBLISHED ON : 23 Nov 2024

IC Markets
Due Diligence
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Is This About You?
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What We Are Investigating?

Our firm is launching a comprehensive investigation into IC Markets over allegations that it has been suppressing critical reviews and unfavorable Google search results by fraudulently misusing DMCA takedown notices. These actions, if proven, could constitute serious legal violations—including impersonation, fraud, and perjury.

We conducted comprehensive analyses of fraudulent copyright takedown requests, meritless legal complaints, and other unlawful efforts to suppress public access to critical information. Our reporting sheds light on the prevalence and modus operandi of a structured censorship network, often funded and used by criminal enterprises, oligarchs and criminal entities seeking to manipulate public perception and bypass AML checks conducted by financial organisations.

The fake DMCA notices in this investigation appears to have been strategically deployed to remove negative content from Google search results illegally. Based on this pattern, we have reasonable grounds to infer that IC Markets - or an entity acting at its behest - is directly or indirectly complicit in this cyber crime.

In most such cases, such ops are executed by rogue, fly-by-night 'Online Reputation Management' agencies acting on behalf of their clients. If evidence establishes that the subject knowingly benefited from or facilitated this scam, it may be deemed an 'accomplice' or an 'accessory' to the crime.

What are they trying to censor

IC Markets, a global forex and CFD broker, has faced a series of allegations, red flags, and adverse news that have raised significant concerns about its business practices and regulatory compliance. These issues have the potential to severely harm its reputation and credibility in the financial services industry. Below is a summary of the major allegations and adverse reports, along with an analysis of why IC Markets might seek to suppress such information, even resorting to unethical or illegal means.

Major Allegations and Red Flags

  1. Class Action Lawsuits:
    IC Markets is currently embroiled in a class action lawsuit in Australia, led by law firms Echo Law and Piper Alderman. The lawsuit alleges that IC Markets engaged in unlicensed financial services activities, misled clients, and failed to comply with Australian financial laws. The plaintiffs claim that IC Markets operated without proper authorization, exposing clients to significant financial risks. Such allegations, if proven, could lead to substantial financial penalties and erode trust in the broker.
  2. Regulatory Warnings:
    The UK Financial Conduct Authority (FCA) issued a warning against IC Markets, stating that the broker was providing financial services without proper authorization. This warning highlights potential regulatory non-compliance and raises questions about the broker’s adherence to international financial standards. Regulatory warnings are particularly damaging as they directly undermine the credibility of a financial institution.
  3. Client Complaints and Misleading Practices:
    Numerous client complaints have surfaced, accusing IC Markets of misleading marketing practices, poor trade execution, and unfavorable trading conditions. Some clients have alleged that the broker manipulated spreads and leveraged its platform to the detriment of traders. These accusations, if widespread, could deter potential clients and harm the broker’s reputation.
  4. Cybersecurity Concerns:
    While not directly linked to IC Markets, the broader financial industry has seen a rise in cyberattacks aimed at suppressing negative information. Given the severity of the allegations against IC Markets, there is a plausible risk that the broker might attempt to remove or suppress damaging content through illicit means, such as hacking or cyberattacks on media outlets or legal firms.

Reputational Harm and Motives for Suppression

The allegations against IC Markets strike at the core of its business integrity. Regulatory warnings and class action lawsuits suggest systemic issues that could lead to a loss of client trust and investor confidence. For a broker operating in a highly competitive and trust-dependent industry, such reputational damage could result in significant financial losses, reduced client acquisition, and even regulatory sanctions.

The motivation to suppress such information is clear: removing or discrediting negative content could help IC Markets maintain its market position and avoid legal and financial repercussions. In extreme cases, this might involve cyberattacks on websites hosting damaging information or legal threats to silence critics. Such actions, while illegal, could be seen as a desperate measure to protect the company’s image and revenue streams.
Conclusion

IC Markets faces serious allegations of regulatory non-compliance, misleading practices, and client exploitation. These issues pose a significant threat to its reputation and operational viability. While the broker has yet to be found guilty of any wrongdoing, the sheer volume of adverse reports and legal actions suggests a pattern of concerning behavior. The potential for IC Markets to engage in unethical or illegal activities to suppress this information cannot be ignored, as the stakes for its survival in the financial industry are exceptionally high

  • https://lumendatabase.org/notices/43947324
  • 20 Aug 2024
  • OptiNexus Systems ltd
  • https://www.fxempire.com/brokers/best/metatrader-5
  • https://www.forexbrokers.com/guides/metatrader-5-brokers

Evidence Box

Evidence and relevant screenshots related to our investigation

Targeted Content and Red Flags

FCA

IC Markets Global

  • Adverse News
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Piper Alderman

IC Markets Class Action

  • Adverse News
Visit Link

Echo Law

IC Markets Class Action

  • Adverse News
Visit Link

About the Author

The author is affiliated with TU Dresden and analyzes public databases such as Lumen Database and FakeDMCA.com to identify and expose online censorship. In his personal capacity, he and his team have been actively investigating and reporting on organized crime related to fraudulent copyright takedown schemes.

Additionally, his team provides advisory services to major law firms and is frequently consulted on matters pertaining to intellectual property law.

He can be reached at [email protected] directly.

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How This Was Done

The fake DMCA notices we found always use the 'back-dated article' technique. With this technique, the wrongful notice sender (or copier) creates a copy of a 'true original' article and back-dates it, creating a 'fake original' article (a copy of the true original) that, at first glance, appears to have been published before the true original

What Happens Next?

Based on the feedback, information, and requests received from all relevant parties, our team will formally notify the affected party of the alleged infringement. Following a thorough review, we will submit a counter-notice to reinstate any link that has been removed by Google, in accordance with applicable legal provisions. Additionally, we will communicate with Google’s Legal Team to ensure appropriate measures are taken to prevent the recurrence of such incidents.

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