85 year old woman behind the fake London binary options firm addresses exposed

Ever wondered why binary options scammers are allowed to claim that they are based in Britain when they are not? Or why they all seem to have the same address? Or perhaps even more interestingly, how they get away with it. Here is the link between binary options fraudsters and their enabler in Britain

85 year old Barbara Kahan is long since retired, and is no longer in the best of health. She would most certainly considered by the authorities and every member of British society to be a senior citizen, whose time should now be spent relaxing and enjoying social activities.

Ms. Kahan has been far more active than that, however, as she is listed as the founding director of 25,802 companies in the United Kingdom, and is present on all of their documentation which is filed with Companies House.

Now, as a result of an investigation by FinanceFeeds and British news source The Times, it is now completely transparent as to what the link is between unregulated companies with a London address, and Israeli binary options scammers.

2 Woodberry Grove London, N12 0DR – Innocuous middle class Finchley residence, or enabler of massive scams?

During the past few years, it has been quite obvious that many very unsavory binary options brands, and in some cases unregulated FX firms with no connection to a live market which live from the losses of clients that they trade against, their owners and operators coming from the Israeli lead buying and affiliate marketing/gaming background rather than genuine FinTech or investment banking as per those in bona fide jurisdictions with an actual career to their name, are all using the same address, that being 2 Woodberry Grove London, N12 0DR United Kingdom.

This is a residential house in Finchley, an affluent middle class suburb of North London.

FinanceFeeds can reveal that Ms. Kahan is behind the connection between nefarious binary options scammers and their ability to show a London address on their website, as well as to be able to enable the binary options firms that are out to rip off British customers to do so on the false pretence that they are in Britain.

Ms. Kahan was until recently a director of A1 Company Services, a specialist in company formation that operates from the Finchley address. Businesses in every sector from rubbish clearers to online pornographers, financial scammers to perfectly legitimate retailers and restaurateurs have been served and established by this firm of consultants.

According to a report on this by The Times yesterday, government ministers are worried that the process is an open door for improper businesses, terrorists and money launderers. Britain’s company formation procedure is one of the easiest in the western world.

Scammers often use a UK address – common practice in the case of binary options firms and unregulated b-book FX firms from Israel which all seem to use the same address – to give their businesses an air of legitimacy.

The entire binary options business was very recently termed “the fastest-growing iteration of investment fraud” by the City of London police. Complaints about such schemes have spiked this year, the force said, with the average loss topping £20,000, yet the Financial Conduct Authority (FCA) does absolutely nothing to stop these criminals from pretending to be based in the UK and conducting their fraudulent schemes on British soil. Instead, the FCA has set about doing damage to the long-established, well recognized CFD industry which is led by top quality, publicly listed British firms with senior executives that have extensive and illustrious career paths, and longstanding, loyal client bases which use their sophisticated and renowned proprietary technology for which London’s financial center is known.

Most binary options companies originate from the lead buying (or lead stealing) back-street society of gambling and online affiliate marketing entities which emanate from Israel. Exactly the type of business that Israel Securities Authority Chairman Professor Shmuel Hauser is doing his absolute best to extinguish globally. These entities then register their businesses in the Grenadine islands or Belize in order to escape prosecution in Israel, and are entirely unregulated by British authorities. Of the many dozens that offer online trading in the UK, only seven fall under British law. Many give the appearance that they are “British” businesses when they are not.

On January 21, 2014, A1 quite legally, incorporated a company called Worldwide Tech Ltd, listing Uri Katz, a 42-year-old Israeli businessman, as its sole director and Barbara Kahan as a further director. The company is the parent of UK Options, a binary trading company that, despite its name and a London address — since changed from A1’s location — is not regulated here.

It has been put on warning lists by Switzerland’s regulator, Finma, and by the British Columbia Securities Commission in Canada, for possibly operating without a licence.

The website is still in operation, enticing Brits into trading that is “fast, safe and profitable — even when global markets aren’t”. The Times approached the company for its comments on this, an no reply was forthcoming.

The Gambling Commission last week issued a warning regarding unlicensed binary options companies — which is most of the industry. It said: “An unlicensed [binary options] operator may be acting illegally. They will not abide by any code of conduct and have no incentive to deal fairly with you.”

Despite this, the FCA does nothing to block these entities from operating or from duping clients by pretending to be British, whereas France, Germany, Denmark, the United States, Holland and Belgium have all outlawed any binary options trading from their shores, and in some cases, even placed sanctions on payment services providers which facilitate it.

Read this next

Inside View

Industry Leaders Share Insights on Framing Crypto Payments into FX Brokerage Business

While the allure of crypto payments is strong, caution is essential. The potential benefits in terms of speed, lower fees, and blockchain efficiency need to be weighed against the risks associated with cryptocurrency volatility. 

Institutional FX

FXSpotStream volumes hit 14-month high in November

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for November 2023, which moved higher on a monthly basis.

Digital Assets

Circle denies ties with Palestinian groups, TRON founder

Stablecoin issuer Circle has denied allegations that it facilitates funding for terrorist organizations.

Retail FX

CySEC hits operator of Titanedge, TradeEU with €90,000 fine

The Cyprus Securities and Exchange Commission (CySEC) announced that it has imposed a fine of €90,000 on Titanedge Securities Ltd due to shortcomings in their regulatory obligations.

Institutional FX

Cboe FX volumes retreats slightly in November 2023

Cboe’s institutional spot FX platform today announced its trading volume for the month ending November 2023, which took a step back after a strong rebound in October.

Institutional FX

Alpha Group seals Cobase majority acquisition

Foreign exchange service provider Alpha Group International plc (AIM: ALPH) has finalized its acquisition of Financial Transaction Services, operating as Cobase.

Digital Assets

TMNG Tokens Successfully Listed on MEXC Crypto Exchange

TMN Global proudly announces the successful listing of its native TMNG token on the MEXC crypto exchange, effective December 1st, 2023. This strategic partnership marks a significant milestone for TMN Global in the crypto space.

Institutional FX

Marex completes acquisition of TD Cowen’s PB business

London-headquartered commodities broker Marex has completed the acquisition of TD Cowen’s prime brokerage and outsourced trading business, which will be integrated into Marex’s capital market division. This division was established following the acquisition of ED&F Man Capital Markets in 2022.

Digital Assets

Talos introduces decentralized liquidity and onchain settlement with Uniswap and Fireblocks

“At the cornerstone of the DeFi ecosystem, Uniswap has the breadth of assets and depth of liquidity that institutional traders need. And to have this partnership powered by Fireblocks, a digital assets infrastructure provider trusted by some of the most renowned institutions, is very fitting.”