What Happened?
Banxso, a growing player in the online trading world, is facing serious allegations regarding its efforts to conceal a troubling history and suppress unfavorable news. Investigations have revealed disturbing links between Banxso and the notorious Banc De Binary scam, a fraudulent operation shut down for defrauding investors . Despite this damaging association, Banxso continues to onboard new clients through misleading ads, attracting individuals unaware of the company’s checkered past .
Adding fuel to the fire, Banxso is currently under investigation by the Financial Sector Conduct Authority (FSCA), a probe the company has confirmed but seems keen to downplay . Instead of addressing these concerns transparently, Banxso has allegedly engaged in attempts to censor negative media coverage, including issuing legal threats to journalists and publications uncovering these critical issues.
As more light is shed on Banxso’s operations, questions about the company’s integrity grow, casting doubt on whether its actions reflect a commitment to ethical business practices or an attempt to control its public image.
Analyzing the Fake Copyright Notice(s)
Our team collects and analyses fraudulent copyright takedown requests, legal complaints, and other efforts to remove critical information from the internet. Through our investigative reporting, we examine the prevalence and operation of an organized censorship industry, predominantly funded by criminal entities, oligarchs, and disreputable businesses or individuals. Our findings allow internet users to gain insight into these censorship schemes’ sources, methods, and underlying objectives.
To accomplish this, we utilize the OSINT Tool provided by FakeDMCA.com and the Lumen API for Researchers, courtesy of the Lumen Database.
FakeDMCA.com is the work of an independent team of research students and cybersecurity professionals, developed under Project UnCensor. Their OSINT Tool, designed to uncover and analyze takedown notices, represents a significant step forward in combating these abusive practices. It has become a valuable resource, increasingly relied upon by journalists and law enforcement agencies across the United States.
Lumen, on the other hand, is an independent research initiative dedicated to studying takedown notices and other legal demands related to online content removal. The project, which operates under the Berkman Klein Center for Internet & Society at Harvard University, plays a crucial role in tracking and understanding the broader implications of such requests.
By investigating the fake DMCA takedown attempts, we hope to shed light on the reputation management industry, revealing how Banxso and companies like it may use spurious copyright claims and fake legal notices to remove and obscure articles linking them to allegations of fraud, tax avoidance, corruption, and drug trafficking…
List of Fake Copyright Notices for Banxso
Evidence and Screenshots
Only Banxso Benefit from this crime.
Since the fake copyright takedown notices were designed to remove negative content for Banxso from Google, we assume Banxso or someone associated with Banxso is behind this scam. It is often a fly-by-night Online Reputation agency working on behalf of Banxso. In this case, Banxso, at best, will be an “accomplice” or an “accessory” to the crime. The specific laws may vary depending on the jurisdiction. Still, the legal principle generally holds that if you actively participate in planning, encouraging, or facilitating a crime, you can be charged with it, even if you did not personally commit it.
So, who tf is Banxso?
Banxso is an online trading platform that offers users access to various financial instruments, including forex, stocks, and commodities. While it presents itself as a legitimate and growing player in the world of online trading, the company has recently come under scrutiny due to multiple controversies, raising serious concerns about its transparency and business ethics.
Major Concerns and Complaints Against Banxso
- Misleading Advertising: Banxso has been accused of using deceptive advertising practices to attract new clients. According to an investigation by Moneyweb, the company has been registering clients who click on fake ads, often promising unrealistic returns or portraying trading as a low-risk activity. This has led to accusations of predatory marketing, with vulnerable investors being lured into signing up without a full understanding of the risks involved.
- Links to Banc De Binary Scam: One of the most alarming allegations against Banxso is its link to the infamous Banc De Binary scam. Banc De Binary was a fraudulent binary options trading firm that was shut down after being implicated in defrauding investors globally. Moneyweb has drawn attention to the connections between Banxso and individuals or entities involved in this previous scam, raising red flags about the company’s origins and integrity.
- Regulatory Scrutiny: Banxso is currently under investigation by South Africa’s Financial Sector Conduct Authority (FSCA). The probe is focused on potential regulatory violations, but the details remain unclear. While Banxso has acknowledged the investigation, the company appears to be attempting to downplay its significance, further fueling concerns about its compliance with financial regulations.
Why Is Banxso Trying to Censor the Internet?
Banxso has allegedly engaged in efforts to censor negative press and stifle investigations into its operations. Multiple reports suggest that the company has used legal threats and other tactics to suppress damaging news coverage, particularly related to its connection with the Banc De Binary scandal and the FSCA investigation. These efforts to silence critics raise questions about Banxso’s commitment to transparency and accountability.
In summary, Banxso’s efforts to manage its public image, combined with a history of dubious practices and ongoing regulatory scrutiny, have led to growing skepticism about the platform. The company’s tactics to censor negative information instead of addressing the concerns directly have only intensified fears that it may be hiding more troubling aspects of its operations.
Potential Consequences for Banxso
Under Florida Statute 831.01, the crime of Forgery is committed when a person falsifies, alters, counterfeits, or forges a document that carries “legal efficacy” with the intent to injure or defraud another person or entity.
Forging a document is considered a white-collar crime. It involves altering, changing, or modifying a document to deceive another person. It can also include passing along copies of documents that are known to be false. In many states in the US, falsifying a document is a crime punishable as a felony.
Additionally, under most laws, “fraud on the court” is where “a party has sentiently set in motion some unconscionable scheme calculated to interfere with the judicial system’s ability impartially to adjudicate a matter by improperly influencing the trier of fact or unfairly hampering the presentation of the opposing party’s claim or defense.” Cox v. Burke, 706 So. 2d 43, 46 (Fla. 5th DCA 1998) (quoting Aoude v. Mobil Oil Corp., 892 F.2d 1115, 1118 (1st Cir. 1989)).
Is Banxso Committing a Cyber Crime?
Yes, it seems so. Banxso used multiple approaches to remove unwanted material from review sites and Google’s search results. Thanks to protections allowing freedom of speech in the United States, there are very few legal ways to do this. Banxso could not eliminate negative reviews or search results that linked to them without a valid claim of defamation, copyright infringement, or some other clear breach of the law.
Faced with these limitations, some companies like Banxso have gone to extreme lengths to fraudulently claim copyright ownership over a negative review in the hopes of taking it down.
Fake DMCA notices have targeted articles highlighting the criminal activity of prominent people to hide their illegal behavior. These people, which include US, Russian, and Khazakstani politicians as well as members from elite circles including the mafia and those with massive financial power, are all connected – and alleged corruption ranging from child abuse to sexual harassment is exposed when exploring evidence found at these URLs. It appears there’s a disturbing level of influence being exerted here that needs further investigation before justice can be served. Banxso is certainly keeping interesting company here….
The DMCA takedown process requires that copyright owners submit a takedown notice to an ISP identifying the allegedly infringing content and declaring, under penalty of perjury, that they have a good faith belief that the content is infringing. The ISP must then promptly remove or disable access to the content. The alleged infringer can then submit a counter-notice, and if the copyright owner does not take legal action within 10 to 14 days, the ISP can restore the content.
Since these platforms are predominantly based in the U.S., the complaints are typically made under the Digital Millennium Copyright Act (DMCA), which requires online service providers and platforms to react immediately to reports or violations. Big Tech companies rarely have systems in place to assess the merit of each report. Instead, all bad actors need to do is clone a story, backdate it, and then demand the real thing be taken down.
What was Banxso trying to hide?
Banxso has been reportedly attempting to suppress several types of adverse news, complaints, and allegations that have surfaced online. These negative reports and reviews question the company’s transparency, ethical practices, and regulatory compliance, raising significant concerns about its business operations. Here are the key issues that Banxso is allegedly trying to hide:
1. Misleading and Deceptive Advertising Practices
Banxso has been accused of using fake and misleading advertisements to attract new clients. According to Moneyweb, the company registers clients who click on deceptive ads that often promise quick and easy returns or portray trading as a low-risk activity. These ads are designed to lure uninformed or vulnerable investors, leading to complaints of false promises and unethical marketing practices. The company has been criticized for failing to provide adequate warnings about the risks of trading, leaving many customers feeling misled.
2. Links to the Banc De Binary Scam
One of the most damaging pieces of information Banxso is reportedly trying to suppress is its connection to the notorious Banc De Binary scam. Banc De Binary was a fraudulent binary options trading firm that scammed investors around the world before it was shut down by regulators. Moneyweb’s investigation suggests that Banxso may have ties to individuals or entities involved in the Banc De Binary scam. These connections raise serious concerns about Banxso’s legitimacy and its founders’ business practices, leading to heightened scrutiny from both the media and regulatory bodies.
3. Regulatory Scrutiny and FSCA Probe
Banxso has confirmed that it is under investigation by South Africa’s Financial Sector Conduct Authority (FSCA). The FSCA probe focuses on potential violations of financial regulations, although specific details of the investigation have not been disclosed. This regulatory scrutiny raises questions about Banxso’s compliance with financial laws and standards, further tarnishing its reputation. While Banxso has acknowledged the FSCA investigation, the company appears to be downplaying its significance, potentially to avoid further damaging its public image.
4. Customer Complaints and Negative Reviews
There have been several reports of dissatisfied customers complaining about Banxso’s practices, ranging from poor customer service to issues with fund withdrawals. These complaints often highlight that customers feel trapped after being misled by the company’s marketing tactics. Additionally, some users have reported difficulty in accessing their funds, adding to concerns about the platform’s trustworthiness.
5. Legal Threats and Censorship Efforts
Banxso has reportedly used legal threats and other censorship tactics to suppress negative news and reviews. Journalists and media outlets have indicated that Banxso has taken aggressive steps to silence critics and prevent damaging information from spreading. This has raised concerns about the company’s commitment to transparency, as many believe Banxso is more focused on controlling its public image than addressing the underlying issues.
In summary, Banxso is allegedly attempting to hide a range of adverse news, from its deceptive marketing practices and customer complaints to its troubling connections with the Banc De Binary scam and ongoing regulatory scrutiny by the FSCA. These efforts to suppress critical information have only added to the growing distrust surrounding the company’s operations and ethics.
Reputation Agency’s Modus Operandi
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.
Then, based on the claim that this backdated article is the “original,” the scammers send a DMCA to the relevant online service providers (e.g. Google), alleging that the ‘true’ original is the copied or “infringing” article and that the copied article is the “original,” requesting the takedown of the ‘true’ original article. After sending the DMCA request, the person who sent the wrong notice takes down the fake original URL, likely to make sure that the article doesn’t stay online in any way. If the takedown notice is successful, the disappearance from the internet of information is most likely to be legitimate speech.
How did Banxso purport this DMCA Fraud?
As an integral part of this scheme, the ‘reputation management’ company hired by Banxso creates a website that purports to be a ‘news’ site. This site is designed to look legitimate at a glance, but any degree of scrutiny reveals it as the charade it is.
The company copies the ‘negative’ content and posts it “on the fake ‘news’ site, attributing it to a separate author,” then gives it “a false publication date on the ‘news’ website that predated the original publication.
The reputation company then sent Google a Digital Millennium Copyright Act notice claiming the original website infringed copyright. After a cursory examination of the fake news site, Google frequently accepts the notice and delists the content.
In committing numerous offences, Banxso either premeditated actions or were unaware of the consequences. Despite hiring an agency to make Google disregard any negative information about Banxso, ignorance does not excuse this wrongdoing.
The Reputation Laundering
Rogue Reputation agencies use spurious copyright claims and fake legal notices to remove and obscure articles linking clients to allegations of tax avoidance, corruption, and drug trafficking. Most of these reputation agencies are based offshore, mainly in Russia, India, and Eastern Europe, and they do not worry about complying with US-based laws.
The content in all of the articles for which the fraudulent DMCA notices have been sent relates to allegations of criminal allegations, including corruption, child abuse, sexual harassment, human trafficking and financial fraud against businesses and individuals with ultra-high net worth.
In addition to the misuse of the DMCA takedown process, there is a notable absence of enforcement concerning perjury violations. The statutory requirement related to perjury is designed to deter copyright holders from submitting fraudulent or knowingly false takedown requests, as they may face legal consequences for making false declarations under penalty of perjury. However, to date, there have been no known instances of any individual being prosecuted for perjury in connection with the submission of false DMCA takedown notices.
This lack of enforcement has emboldened copyright holders to exploit the DMCA takedown process to suppress dissent, criticism, or other unfavorable content, without fear of legal repercussions.
Not In Good Company
Some of the people and businesses who have employed this tactic to remove legitimate content from Google illegally include a Spanish businessman-turned-cocaine-trafficker, Organised crime, an Israeli-Argentine banker accused of laundering money for Hugo Chávez’s regime, a French “responsible” mining company accused of tax evasion, child molesters and sexual predators. Banxso is in great company ….
Ironically, the manipulation tactics used to remove public-interest information from the Internet are backfiring on Banxso, which is now associated with the worst of this world.
Here are some of the specimens that share the internet space with Banxso –
Miguel Octavio Vargas Maldonado
Miguel Octavio Vargas Maldonado appears to be the former foreign affairs minister of the Dominican Republic. His name is listed next to more than 500 links to news articles, blogs, social media posts, and YouTube videos targeted for removal or de-indexing. Many of the articles refer to questions over his political fundraising practices. They include accusations that Vargas had received donations from an individual who would later be convicted of drug trafficking. Some targeted links remain active, while others return 404 errors or “file not found.”
José Antonio Gordo Valero
José Gordo joined OneCoin in 2015 and has been named in an indictment for the OneCoin scam in Argentina. The articles listed next to Gordo’s name in the documents reviewed by Rest of World include references to his role at the company.
Diego Adolfo Marynberg
He appears to be the same Marynberg connected to funding right-wing causes, including settlement efforts in Israel. Reports also alleged that his company received preferential treatment in acquiring Argentinian bonds worth millions of dollars. More than 70 URLs appear next to Marynberg’s name in the documents, including pages from the Israeli newspapers The Times of Israel, Haaretz, and Clarin, one of Argentina’s most prominent news sites.
Majed Khalil Majzoub
Majed is an influential businessman with close ties to several governments, including the administration of Venezuelan president Nicolás Maduro. Majzoub’s name appears next to more than 180 URLs, mostly from independent outlets. Of the two URLs that pointed to articles from Germany’s Der Spiegel, one now returns an error message; the other, which appears to refer to relations between Venezuela and Colombia, directs to an unrelated story about Brexit.
Frequently Asked Questions
Did Banxso commit a cyber crime?
Yes, filing a fake DMCA notice is illegal. The Digital Millennium Copyright Act (DMCA) allows copyright holders to issue takedown notices to protect their works from unauthorized use online. However, submitting a false DMCA notice can result in legal consequences.
Under the DMCA, a person knowingly submitting a false copyright claim can be subject to penalties, including damages. DMCA notices require the filer to certify, under penalty of perjury, that the content infringes their copyright. If the notice is found to be fraudulent or made in bad faith, the filer can face.
What are the potential consequences for Banxso?
Civil lawsuits: The affected party can sue for damages, legal fees, and other costs.
Perjury charges: False certification in a DMCA notice can result in perjury-related penalties, which vary by jurisdiction.
Other legal penalties: Fines or other penalties depending on the case
Did Banxso commit a Civil or a Criminal offense?
Perjury is a criminal offense, not a civil crime. It involves intentionally lying or making false statements under oath, typically in a court of law or other legal proceedings, such as affidavits or depositions.
Criminal charges: Perjury is prosecuted as a criminal act, and a conviction can lead to fines or imprisonment, depending on the severity of the false statement and its impact on the case.
Felony status: In many jurisdictions, perjury is classified as a felony, which carries more severe penalties than misdemeanour offences.
So, while it may affect civil cases, the crime of perjury itself is strictly criminal.
What is the Streisand effect?
The key idea behind the Streisand effect is that efforts to restrict information can backfire, often causing the information to gain more attention than it would have otherwise. This effect is widespread in the digital age, where users quickly notice and spread censorship efforts on social media and other platforms.
Trying to suppress something can unintentionally lead to it becoming more visible.
Can Banxso purge its Digital past?
Once information is uploaded to the internet, it can be replicated, shared, archived, or stored across multiple servers. If Banxso manage to delete the original post or file, copies may remain accessible in other places, such as web archives, screenshots, or other users’ devices.
In practice, completely erasing content from the internet can be extremely difficult due to how widely information can spread and be stored. Thus, the idea that “the Internet never forgets” reflects the challenge of entirely removing digital content once it has been shared.
What is our next move?
Critical Intel will, in its capacity, do all it can to hold someone responsible for this incident. Here is what we are preparing for –
Since Banxso made such efforts to hide something online, it seems fit to ensure that this article and our original review of Banxso, including but not limited to user contributions, remain a permanent record for anyone interested in Banxso.
A case perfect for the Streisand effect…
What else is Banxso hiding?
Click here to visit the Google Search page for ‘Banxso’. It’s likely if you scroll down to the bottom of this Google search results, you’ll stumble upon this Legal Takedown notice (pictured below)
To make such an investigation possible, we encourage more online service providers to come forward and share copies of content removal requests with us. If you have any information on Banxso that you want to share with us, kindly email the author directly at [email protected].
All communications are strictly confidential and safeguarded under a comprehensive Whistleblower Policy, ensuring full protection and anonymity for individuals who provide information.
References and Citations Used
Over thirty thousand DMCA notices reveal an organized attempt to abuse copyright law.
Reputation Management, or Internet Conspiracy
Exposed documents reveal how the powerful cleaned up their digital past using a reputation laundering firm.
Companies Use Fake Websites and Backdated Articles to Censor Google’s Search Results.
Bad Reviews: How Companies Are Using Fake Websites to Censor Content
How fake copyright complaints are muzzling journalists
Many thanks to FakeDMCA.com and Lumen for providing access to their database.
Photos and Illustrations provided by DALL-E 3 – “a representation of Banxso censoring the internet and committing cyber crimes.”
- Our investigative report on Banxso’s efforts to suppress online speech is significant, as it raises serious concerns about its integrity. The findings suggest that Banxso has engaged in questionable practices, including potential perjury, impersonation, and fraud, in a misguided attempt to manage or salvage its reputation.
- We intend to file a counternotice to reinstate the removed article(s). While this particular instance is relatively straightforward, it is important to note that, in other cases, the overwhelming volume of automated DMCA takedown notices can significantly hinder the ability of affected parties to respond—especially for those not large media organizations.
- You need an account with fakeDMCA.com and Lumen to access the research data. However, accounts are not widely available since these non-profit organisations manage large databases that could be susceptible to misuse. Nevertheless, they do offer access to non-profits and researchers.
- It’s unclear why U.S. authorities have yet to act against these rogue reputation agencies, whose business model seems rooted in fraudulent practices.
- We’ve reached out to Banxso for a comment or rebuttal regarding this investigation. It will strongly suggest they were behind the takedown attempt if they remain silent.
About the Author
The author is affiliated with Harvard University and serves as a researcher at both Lumen and FakeDMCA.com. 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.