CFTC Targets Affinity Fraud Cases In U.S., Alleges Unauthorized Offering Of FX Futures

REGULATORS

In the third such action in the past three months, the U.S. Commodity Futures Trading Commission (CFTC) has secured a restraining order against an alleged perpetrator of so-called affinity fraud involving foreign exchange futures and other securities.

This tough action--which in the latest case freezes the assets of New York-based Standard Forex Inc.--reflects the regulator's determination to eliminate affinity frauds, a term used to describe frauds against ethnic minorities or vulnerable

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