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Have a future! Stop working for boiler rooms! Blow the whistle!

become a whistleblower and chose the whistle instead the handcuffs
Spread financial intelligence

Simona Weinglass of The Times of Israel recently brought a nice report about the “major shift” in the approach of German law enforcement agencies in prosecuting scams and illegal broker activities. Simona understands that the authorities are now cracking down on white-label platform operators such as PandaTS, AirSoft, or TraderSoft and not so much on single scams. And she is right! In an office raid at PandaTS, German law enforcement agents seized extensive data on their clients. They are currently being evaluated; further raids on scams and their boiler rooms are to be expected.

You are not a financial advisor

Many boiler room agents think they are either working in legitimate call centers or regard themselves as financial advisors advising their clients. The job ads for boiler rooms in Belgrade, Sofia, Tbilisi, or Tel Aviv read like this. The truth, however, is that these boiler room employees are co-conspirators in cybercrime organizations, and therefore criminally liable for the damages of their clients, a/k/a victims. Most boiler room agents are very well aware that their clients are victims, and any money deposited by them is acquired illegally. These boiler rooms operate ever-changing scam brands primarily implemented as white-label solutions on one of the major platforms like PandaTS.

You may be found and arrested

The forensic analysis of the seized PandaTS data will cause a new earthquake in the international scam scene. There will most likely be more law enforcement Action Days and more arrests. Among the then arrested, we will perhaps see boiler room employees. Don’t make a mistake – the data of the scams and their boiler rooms can be found in the databases of PandaTS and the other platform operators. In this respect, it is only a matter of time when the next Action Days will take place and the next arrests.

It took the law enforcement agencies in the different jurisdictions some time to coordinate their efforts, but they have done their job. Meanwhile, the international law enforcement agencies within and outside the EU are cooperating almost seamlessly. Therefore, the Action Days could take place in Israel, Ukraine, and Georgia. And more will come!

Blow the whistle

If you want a future, you should quit your job in the boiler rooms and turn into a whistleblower. Submit data to FinTelegram or the relevant authorities. The choice is yours – handcuffs or whistle! Give it a second thought!

CategoriesBoiler Rooms

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