For FinTelegram and the European Funds Recovery Initiative (EFRI) launched by FinTelegram under the leadership of the auditor and former Ernst & Young partner Elfriede Sixt, it is apparent that the European fight against cybercrime in general and cyberscams, in
EFRI Cyberscam Report to EU Commission
EFRI has recently provided a report on
National consumer authorities, under the coordination and the support of the European Commission, continuously monitor online commercial practices of several online platforms and engage in actions that aim in bringing them in line with EU consumer law.Statement of Commissioner Jourova’s Cabinet to EFRI
In the report, FinTelegram and EFRI had provided the EU with their extensive findings on cyberscams. The report is based on
- the analysis of victims data and
- the associated documents (payment documents, payment services provider involved, companies and people involved, etc)
- structured whistleblowers findings, and
- FinTelegram research finding and conclusions
The information has been condensed and submitted to the EU Commission.
The next weeks and months will be decisive for the fight against #cyberscams! We must break the dynamics of cyberscams and stop their expansion!
Fight attacks on EU retail investors from Non-EU perpetrators
In recent years, perpetrators from non-EU countries such as Israel have been able to attack and cheat almost unhindered small investors in the EU. The Israeli Gal Barak together with dozens of other Israelis established E&G Bulgaria in Sofia, Bulgaria. Boiler rooms and broker scams are operated via this Bulgarian company. This Israeli
Not least thanks to the information provided by FinTelegram and EFRI, the authorities were able to obtain an EU arrest warrant on the basis of compelling evidence. Gal Barak‘s partner, the German Uwe Lenhoff, has already been arrested and is waiting with 4 more accused co-conspirators for indictment and trial.
The extradition of Gal Barak to Austria, where the investigating authorities have taken over the EU-wide coordination for the clarification of this
EFRI petitions against
With the EFRI petition for the extradition of Gal Barak, I hope we can help the authorities to thoroughly address this European precedent. Many hundreds of people have already supported the EFRI petition and sent it to the Prosecutor General of Bulgaria and the relevant embassies. This petition has been a great success so far in mobili
Together we can make online Europe safer. Let us not let up in the fight against cyberscam.