The FBI estimates that the scammers steal $10 billion annually worldwide.[1] The use of the names of famous and respectable people such as Richard Branson to encourage people to buy fake "investments" is frequent and increasing.[2] Articles published in the Times of Israel newspaper explain the fraud in detail, using the experience of former insiders such as a job-seeker recruited by a fake binary options broker, who was told to "leave [his] conscience at the door".[3][4] Following an investigation by the Times of Israel, Israel's cabinet approved a ban on sale of binary options in June 2017,[5] and a law banning the products was approved by the Knesset in October 2017.[6][7]