Over the last decade, in Israel, Binary Options has become a term that carries with it a heavy stigma of fraud and theft and is generally associated with shady people. But it hasn’t always been like that. For a long time, for many people, it was just another sector of the financial industry which was raking in A LOT of dough. It actually provided an opportunity for many people who otherwise struggled to make a living in Israel, an opportunity to make good money, fast!
On the 23rd of March, 2016, Simona Weinglass, a reporter for the Times of Israel, wrote an expose of the Binary Options industry. In it, she described a world that thrived on deception, illegal activity, and ultimately on preying on the weak.
Since her exposé in the Times of Israel, Simona has been covering the battle against Binary Options in Israel’s Parliament. Today, the industry is well on its way to being taken down.
This episode is a rerun from a year ago (ep 14) when Simona joined us to talk about this dark industry and how she came to uncover it.
For her original exposé on the industry: