Global Glosssary: Includes FCA Definitions & Handbook references

A scammer gains access to a victim’s computer systems or private network, encrypts sensitive information or data, and demands a ransom from the victim to restore access to the encrypted information or data upon payment. The scammer will then provide detailed instructions on how to pay the fee to get the decryption key and may accept payment in crypto assets.

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(in COBS 4.12B, COLL and for the purposes of the definition of nonreadily realisable security):
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The process whereby the stablecoin issuer returns, at the request of the stablecoin holder, the monetary value held by the issuer when it issued the stablecoin.

Registered person (as defined in article 73ZA of the Financial Promotion Order) a person who is:

(a) a cryptoasset exchange provider or custodian wallet provider, as defined in regulation 14A (cryptoasset exchange providers and custodian wallet providers) of the Money Laundering Regulations;

(b) included on the register maintained by the FCA pursuant to regulation 54(1A) (duty to maintain registers of certain relevant persons) of those Regulations; and

(c) not an authorised person.

Restricted mass market investment any of the following:

(a) a non-readily realisable security;

(b) a P2P agreement;

(c) a P2P portfolio.

whether or not any of (a) to (h) are held within an ISA or a CTF.

[Note: Section 238 of the Act and COBS 4.12B set out restrictions on the promotion of non-mass market investments to retail clients. See also COBS 9.3.5G and COBS 9A.2.22G Investments subject to restrictions on retail distribution).]

Scammer adopts a fake online profile to gain a victim’s affection and trust and then uses the illusion of a romantic or close relationship to manipulate and/or steal from the victim.

Derived from the expression “pulling the rug out”. Variation of investment scheme where a developer attracts investors to a new cryptocurrency project (e.g., a new token or initial coin offering) through online crowdfunding, pumps up the value of the investment, and then pulls out before the project is built, leaving investors with a worthless currency.