Wikipedia vs. Banc De Binary: A 3-year battle against binary options ‘fake news’

But as the recent Signpost article makes clear, the problem of paid editing has not gone away.

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The CFTC warned more generally of "fraudulent schemes involving binary options and their trading platforms".

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Although Banc de Binary’s affiliates are incorporated in Israel and the Republic of Seychelles, the companies collectively do business as “Banc de Binary.” (Id. at ¶¶ 4, 13–15). Banc de Binary was founded in by Defendant Oren Shabat Laurent, a twenty-nine year old American and Israeli citizen who lives on the outskirts of Tel Aviv.

Undeclared paid editors are not allowed to contribute to any of these sites. Advertising, marketing, and public relations text is prohibited by Wikipedia policy. However, they are permitted to make suggestions on the talk page. John Berry, a senior lawyer for the U. Securities and Exchange Commission, said in a May interview with BBC radio that not only had Banc De Binary sold ostensible financial products to investors without being licensed to do so, but it had deceived those investors as well: Another brand that appears to be associated with Banc De Binary, Option.

Over the next 11 months, over edits would be made to the article, an unusually high number. According to the Signpost article, over 20 separate sockpuppets were banned from Wikipedia after editing this article. On January 9, , the company announced that it would be closing because of negative press coverage and its tarnished reputation.

The main thing they were trying to do was take the information out or put it down at the bottom of the article where no one would read it. It was totally impossible to figure out what everybody wanted. And we had to put in as much time as they did, even more, because if we want to correct something, often we correct it two or three different times because there are a few editors with different points of view.

Binary options, forex and paid editing Banc De Binary is not alone. Smallbones said that paid editing on Wikipedia is rampant in the binary options and retail forex industries. Many Wikipedia articles for such websites get deleted soon after they are put up, he said, because Wikipedia administrators strongly suspect they are created by paid editors for advertising purposes.

In a post from September , a Wikipedia editor recommended several binary options and forex company pages for deletion only an administrator, a Wikipedia editor with special privileges, can perform the actual deletion , because the editor believed the entries had been created by sockpuppets or suspected paid editors.

These included entries for binary and forex firms Spotware Systems Ltd. Some firms pay for sponsored content on mainstream news sites, hire expensive lobbyists and PR firms, cozy up to politicians and donate money to charities.

Some companies have managed to get their own executives to appear as talking heads on mainstream television financial programs. If some of these efforts sound reminiscent of the recent outbreak of fraudulent and polluted content stemming from Russia, among other actors, this may be because the binary options industry has a significant Russian component.

Beyond the Israeli call centers and marketers who commit binary options fraud, many of the investors or ultimate beneficiary owners of binary options companies are Russian. Several Russian-owned forex companies, like Forex Club and Master Forex, have partnered with the Israeli platform provider SpotOption to create their own binary options brands, such as option4trade and mfxoptions.

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History. Banc de Binary was founded in by Oren Laurent. The idea came about after proposed rule changes made by the Options Clearing lokersumbagut.ga rule changes paved the way for the U.S. Securities and Exchange Commission to allow binary options to be traded on major markets beginning in The company originally Founder(s): Oren Laurent, co-founder.

The Banc De Binary Wikipedia page “was written by a paid editor (since banned) as a whitewash, and then Wikipedia editors got hold of it . Although Banc de Binary’s affiliates are incorporated in Israel and the Republic of Seychelles, the companies collectively do business as “Banc de Binary.” (Id. at ¶¶ 4, 13–15). Banc de Binary was founded in by Defendant Oren Shabat Laurent, a twenty-nine year old American and Israeli citizen who lives on the outskirts of Tel Aviv. 

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Banc de Binary

Wikipedia Volunteers Battle Banc de Binary PR Blitz Wikipedia, the world’s premium digital encyclopedia is the antithesis of the fraudulent binary trading mindset. This non-profit project is a roaring success and is the fifth most visited website in the world. Banc De Binary's winning approach is based on sustainable growth, ethical business standards, responsibility towards the financial services industry, care for its customers, as well as fair work ethics and labour practices.

The Banc De Binary Wikipedia page “was written by a paid editor (since banned) as a whitewash, and then Wikipedia editors got hold of it and converted it to a truthful article about what is clearly a very dodgy company. Since its establishment in , Banc De Binary has rapidly risen to become one of the leading binary options trading firms in the industry. Over the years, Banc De Binary has gained a strong reputation for its high level of excellence in client services as well as the ease of use for its trading platform.

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