FinTelegram launched today the “FinTel Watchdog Platform” (www.the-watchdogs.com) in an experimental soft-launch. The goal of this whistleblower platform is to tap into the wisdom of many to expose cybercrime and recover funds. By means of crowdsourcing, we want to gather information about scams, online fraud, and other cybercrime. The participating members – we call them Watchdogs – will be rewarded for their cooperation. We have created the Watchdog Token (WAT) as the accounting unit for this reward. The WAT will automatically be credited to the accounts of the participating Watchdogs on the platform when they provide information via forum posts, replies, or other activities. The WAT is repurchased every month end via the WAT Reward Pot with cryptocurrencies or FIAT (PayPal).
Cybercrime will be a major challenge for the digital society. Scam brokers like the Zoo Broker Scam Network, the Blue Trading, the KayaFX or StoxMarket Scheme demonstrate that we need new ways to fight criminals. The FinTel Watchdogs are supposed to be such a new way. An ambitious attempt, certainly. But worth a try!
The FinTel Watchdog Platform is operated by FinTel Watchdog Ltd, registered in the UK. This is a member of the Financial Intelligence Bureau Group. Together with FinTelegram News and our European Fund Recovery Initiative (EFRI), an efficient movement to combat cybercrime is to be created with the help of our Watchdogs. We call this the Fighting Cybercrime Triangle.
Currently, the FinTel Watchdog Platform is still experimental. We don’t yet know if it works and what exactly we need to do to tap into the decentralized intelligence. In this respect, we are grateful for all feedback. There is much room for
