Every October since 2013, the City of London Police in partnership with the City of London Corporation’s Trading Standards team has run an investment fraud awareness campaign which has helped to highlight the work delivered by the Operation Broadway team. Operation Broadway is an ongoing operation run by the City of London Police, the City of London Corporation’s Trading Standards Team, the Metropolitan Police Service, the Financial Conduct Authority and HMRC. The operation uses numerous tactics to disrupt boiler room operations in both the City and in Canary Wharf.
The Economic Crime Directorate (ECD) decided to conduct a day of action on 17 October 2017 which incorporated the tactics used by Operation Broadway. Several businesses in the City which traded in binary options and Contract For Differences (CDFs) were visited on this day by the ECD teams who gathered intelligence and a better understanding of how businesses were operating. To achieve maximum media coverage, the investment fraud campaign was launched on the same day as the ECD’s Operation Mass. All partners who were involved in the day of action were involved in the communications strategy and asked to provide a quote for the press release.
In previous years the campaign has focussed on an older demographic, as these people are most likely to fall victim to investment fraud. Binary options fraud however tends to also have reports from younger victims and this was emphasised on social media and through paid Facebook advertising to target this younger group.