Front Page
My Featured Posts
Sign the EFRI Petition now to make the Internet a safer place!
The Internet is everywhere; it offers so many possibilities past generations never had even dreamed of. But yet it’s an unsafe environment, prone to manipulation,..
Latest Updates
R
Regulatory Monitor – Malta’s XNT hit by resignations of its directors!
XNT LTD (previously known as Exante Ltd) is an investment firm incorporated in Malta and regulated by the Malta Financial Services Authority (MFSA). Three directors resigned during the past months, namely Joseph Zammit Tabona, Michael Bianchi, and Lawrence Zammit. The present directors are Alexey Kirienko and Anatoly Knyazev; they have links with former Maltese Prime Minister Joseph Muscat, allegedly the most corrupt politician in 2019.
G
German BaFin investigates CapitalFunds broker scam, part of the Joshua Group
FinTelegram had already warned about the CapitalFunds (www.capitalfunds.co) broker scam in August 2019. In our report at that time, we pointed out that this scam is part of the so-called Joshua Group, a Georgian-Bulgarian cybercrime organization operating a vast scam network with its boiler rooms. Various regulators have issued warnings against the scams of the Joshua Group. Today, BaFin has announced an investigation of CapitalFunds. Eventually!
A
Attention! Do not fall for CryptoFXexpertMiners and CryptoLegalMiners!
The UK FCA currently focuses on the crypto segment when it comes to investor protection. This approach is justified given the ongoing hype. More and more scams and multi-level marketing investment schemes rely on cryptocurrencies. Investors are increasingly suffering from FOMO syndrome and turning off their minds. The FCA has issued a warning against CryptoLegalMiners and CryptoFXexpertMiners. Stay very, very far away.
Payment Processors
P
Please notice! Broker scams Tandem Markets and Global Morgan on the hunt!
In our reviews today, we have discovered that currently, via Yuan Pay a/k/a Yuan Pay Group scam campaign, the broker scam Tandem Markets (www.tandemmarkets.com) is being promoted. This scam is operated by the same boiler rooms and marketing companies as Global Morgan (www.globalmorgan.com). Currently, there are no warnings from regulators against either scam. Stay far away and keep your money and data.
B
BaFin follows FinTelegram and investigates vanished RocketChart broker scam
In April 2021, we issued a warning against the RocketChart broker scam that wanted to catch victims via fraudulent marketing campaigns like BitQT. Also, in German-speaking countries. It took a few months before the German regulator BaFin announced an investigation into the scam, which has since disappeared. The investigation probably won't yield much insight, but it may be enough to file a report with the relevant law enforcement agency?
T
The calamities of Lithuanian high-risk payment processor Trustcom!
A Lithuanian law firm representing a Bulgarian and a Portuguese company in disputes with the regulated Lithuanian high-risk payment processor Trustcom Financial UAB, which froze the funds of these companies. This case turned into a criminal investigation conducted by the Lithuanian authorities. They suspect money laundering in the amount of more than €1 million in the context of their clients, they say. Another report by Lithuanian online news site Delfi said the Lithuanian FNTT had fined the company €125,000 for money laundering.
I
Investor warning against Global Trader broker scam facilitated by PayPound and Dream Finance
TODAY, the UK FCA issued a warning against the Global Trader broker scam. The scam's website claims that its offices are in Canary Wharf in London. Of course, this is not true. Information about the operating legal entity or the responsible jurisdiction is searched in vain. Payment processors we have are PayPound for credit and debit card payments and Dream Finance OÜ d/b/a Cryptoprocessing.
Cybercrime Court Cases
M
Munich Trial Day #1 – Jacki Fitelzon plead guilty; agreed to a 78+ months prison time but …!
On day #1 of the Munich Trial, the 44-year old Israeli Jacki Fitelzon offered a guilty plea including a full and comprehensive confession in exchange for a moderate sentence. Prosecutor and the defense attorney agreed on a sentencing between 78 to 84 months prison time. The final decision is up to the judge. In addition, the defense attorney offered that all the claims of the victims represented by EFRI would be recognized. The prosecutor started with his questions before the trial was adjourned to next Friday.
Regulatory Updates
A
A Victims Report – Scam broker FXCT Investments and how they work!
On Trustpilot, FXCT Investments looks excellent with a 4.4-star rating out of more than 480 reviews. This creates confidence for potential and existing customers. If Trustpilot didn't exist, the scammers would invent it. Unfortunately, this review and rating site is one of the essential tools to deceive consumers. Most of the 5-star reviews are written by boiler room agents or new clients who still see initial (fake) profits in their dashboard. These are fake reviews. This is also the case with FXCT Investments.
A
Attention! Stay away from CryptoMarginPro and TradeCryptoVariety schemes!
The UK FCA has again issued warnings against two unregulated crypto trading schemes. These are CryptoMarginPro (www.cryptomarginpro.com), operated by the offshore entity PO TRADE LTD, registered in Saint Lucia, and TradeCryptoVariety (www.tradecryptovariety.com), which TradeCryptoVariety Ltd allegedly operates in Sweden. However, the website gives an address in San Diego, United States. Stay Far Away; we believe these schemes are scams!
B
Bravo! Lithuanian regulator follows FinTelegram and revokes license of Epayblock!
FinTelegram has issued several warnings against the notorious scam and cybercrime facilitator Epayblock, an e-Money Institution regulated by the Bank of Lithuania (BoL). Finally, the regulator announced that it revoked the license of Epayblock due to money laundering issues. The regulator said that it received complaints and information about Epayblock customers potentially using its services for fraud. It initiated the investigation and obtained court permission to apply temporary restrictions on the provision of services to its customers.
Support Scam Victims
Join the fight against cybercrime!
European Funds Recovery Initiative (EFRI) is a non-government organization with the mission to support scam and cybercrime victims.
