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Posts published in “EFRI”

Investment Scams Victim Poll – Please participate to improve Investor Protection

Since the beginning of 2018, the Fintelegram News team has been collecting data on cybercrime, its perpetrators and victims together with colleagues from the European Funds Recovery Initiative (EFRI). Thanks to the intensive cooperation of whistleblowers and victims, we have been able to uncover numerous scams and support authorities with targeted information. But we want to achieve more. In the interests of efficient investor protection, we want to know more and will conduct more surveys and votes.

Compliance violations make Wirecard liable for injured investors says expert

In our European edition of FinTelegram News, today published a further analysis of the results of the KPMG special audit report. It is currently no longer a secret in the Fintech and financial scene that Wirecard, which is listed on the German DAX, has a serious problem with the not even very critical KPMG report. From the point of view of our FinTelegram Research Team as well as from the point of view of the investor protectors of the European Funds Recovery Initiative (EFRI), it is clear on the basis of the findings of the KPMG report that Wirecard has not properly fulfilled its KYC/AML obligations.

23Traders Scam – Prosecutors opened criminal case and ask for victim reports

FinTelegram News was informed by damaged investors of the Austrian-Israeli binary options and broker scams 23Traders that authorities in some jurisdictions have accepted their respective criminal complaints and opened investigations. The Austrian Hans Brabenetz as the scam's ultimate beneficial perpetrator (UBP) and his Israeli partners Adi Mantel, Giora Tal, Eran Schindler, and Tal Dayagi are in the center of these law enforcement investigations. The investigations are therefore also being conducted by the public prosecutor's office in Austria with file number 11 St 351/19t ON 9.

BeAlgo & AlgoTechs broker scam – EFRI registers victims for European law enforcement investigations

In many jurisdictions, the authorities are currently investigating the fraudulent binary options & broker scams. The mills of justice are known to grind slowly but they grind. In addition, FinTelegram and the European Funds Recovery Initiative (EFRI), which we co-founded, ensure that the authorities continue their investigations and receive useful information. This was also the case with the huge BeAlgo and AlgoTechs broker scams. This scam has cheated thousands of small investors out of many millions.

German Handelsblatt published a new report on Wirecard and the EFRI money-laundering complaint

Felix Holtermann and Christian Schnell of the German Handelsblatt reported on the money-laundering report filed against Wirecard by the European Funds Recovery Initiative (EFRI). In a detailed article titled "The past catches up with Wirecard" the background of the global scam industry and the respective involvement of payment processors is explained.

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