Sept. 21, 2012
-- The new service is part of the BankingInsuranceSecurities.Com group of websites which operate on a "magazine-store"
The first story in the new section is about two teenagers who are half-way to raising half-a-million euros to design and launch a website for young people whose parents migrate to a new country.
Launching the service, Nigel Morris-Cotterill, Head, The Anti Money Laundering Network, ultimate owner of Vortex Centrum.Com, said "Crowdfunding is a rapidly growing area of financial services. It has many good news stories - and some horror stories, too. The new service will cover Crowdfunding from all perspectives including regulatory, compliance, risk management - and those all-important tales of happy success."
Crowdfunding is a way of raising funds for a business without issuing equity and therefore falls outside the regulatory regime for advertising or promoting shares in a business. Many crowdfunding projects are for very small amounts of money. However, the sector is becoming popular with those who claim to be raising money for medical bills for ill relatives or a range of apparently social causes including animal welfare which is undermining its credibility as an tool for entrepreneurs. "That's opening the door to all manner of frauds," says Morris-Cotterill, adding "the sector is going to have to divide into genuine commercial projects and other "feel good" projects if it is to avoid significant reputational harm before it has reached its full potential."
PR material for the new service can be submitted via PR submission service at www.vortexcentrum.com. PR is not accepted in any other way, including e-mail.