Category: Law Enforcement

Law and Tax Enforcement should address payment processorsL
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November 6, 2020

Law and Tax Enforcement Actions – Start with Payment Processors to chase cybercriminals

FinTelegram is frequently contacted by law enforcement agencies in various jurisdictions with requests for information. It has become known in the international law enforcement scene that FinTelegram has indeed valuable information and contacts. In our respective discussions, we recommend starting enforcement actions against facilitating payment processors. They are the backbone and payment data hubs of the ever-expanding cybercrime universe and its scams.
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Gery Shalon aka Gabriel ShalelashviliV
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September 25, 2020

Vienna Cybercrime Trials connected to JP Morgan hack and U.S. Indictment

Georgian-born Israeli Gery Shalon is the son of former Georgian MP and entrepreneur Shota Shalelashvili and the alleged mastermind in the largest financial hack in U.S. history (read DoJ press release). He was arrested in Israel in July 2015 and extradited to the U.S. There he stands in a kind of house arrest, waits for his trial, and is said to help U.S. authorities in their fight against Russia in a bid for leniency.
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Gal Barak convicted and sentenced with Peter LewischB
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September 1, 2020

Breaking News – Israeli scammer Gal Barak sentenced to 4-year-prison-term

The Vienna Cybercrime Trials are over for now. The honorable court today found the Israeli Gal Barak guilty of investment fraud and money laundering. He was sentenced to a 4-year-prison term. He was accused of being a principal of the international cybercrime organization E&G Bulgaria, through which he ran binary options and broker scams with his wife Marina Barak and a team of mostly Israeli co-conspirators. It is an extraordinarily important judgment in terms of general prevention and a strong signal to the scammer scene.
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Ukraine crypto laundromat crashedM
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August 19, 2020

Money laundering – Ukrainian cyber police crushes crypto laundromat with Binance support

Increasingly, cybercrime organizations, scammers, and hackers are using cryptocurrencies for their illegal transactions and the associated money laundering. In Ukraine, the local cybercrime unit smashed a crypto laundromat which allegedly laundered $42 million. Three suspects have been arrested in a law enforcement action in June 2020. Experts from the crypto exchange Binance helped the Ukrainian police in this.
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June 5, 2020

Investor Alert – Prosecutors seized accounts of Austrian pawnbroker GoLending

Regulatory Fine In October 2019, the Austrian Financial Market Authority FMA imposed a fine of EUR 10,000.00 on the pawnbroker GoLending AT GmbH (“GoLending“) for..
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May 14, 2020

The EFRI Mission – Involving Regulators and Prosecutors to Recover Funds for Defrauded Investors

The European Funds Recovery Initiative (EFRI), co-founded by FinTelegram, is specialized in the recovery of funds of investors who have been defrauded by investment scams. Furthermore, EFRI sees itself as an advocate for investors and investor protection. Currently, EFRI has been granted a Power of Attorney by more than 800 victims which have been defrauded of more than EUR 34 million. The approach applied by EFRI differs in several aspects from the activities of lawyers and other organizations in the recovery business. Also because EFRI is organized as an initiative and association of victims.
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EFRI campaign for BeAlgo and AlgoTechs scamsB
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March 11, 2020

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.
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February 4, 2020

Cybercrime survey – Awareness is rising in Europe

Life in our cyber society is characterized by digitalization and the Internet. Financial transactions are also handled via the Internet, as are purchases and partner searches. The ubiquitous smartphone is the new center of human life. Unfortunately, today's cyber society has also brought a new form of crime - cybercrime. Studies show that people are now more likely to become victims of cybercriminals than traditional criminals.
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February 4, 2020

International enforcement action stopped an Organised Criminal Group and their crypto scam

According to Eurojust, the European Union Agency for Criminal Justice Cooperation, an international law enforcement action took action against an crypto scam promising returns of..
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