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Alberta woman loses $75,000 to binary options scam

An Alberta woman is warning others of the alarming trend of binary options scams after losing $75,000 to the investment fraud.

The woman said that the scam started out sounding, “quite plausible,” and other websites even claimed the company she was using was legitimate. “Basically it’s almost like a hypnotic formula that’s used with the premise that of course money makes money, and the more money that’s invested, the bigger the outcome,” she said.

Read more at CBC News

This article is summarized by Canadian Fraud News Inc.